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Tax on Under-Utilized Foreign-Owned Residential Property

This act introduces a new tax for foreign individuals owning residential properties in the U.S. that are largely unoccupied throughout the year. The aim is to encourage more efficient use of properties and potentially increase housing availability. This tax may influence investment decisions of foreign owners.
Key points
A new 1% annual tax on the estimated value of residential properties owned by foreign persons and occupied for less than 180 days per year.
Applies to single-family homes, structures with four or fewer residential units, and various types of condominium or rowhouse units.
Occupancy is defined by continuous stay for at least one month by a U.S. citizen, permanent resident, authorized worker, or the owner/their family (if it's their primary residence).
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Expired
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Additional Information
Print number: 117_HR_9585
Sponsor: Rep. Jacobs, Chris [R-NY-27]
Process start date: 2022-12-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

American Property Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9585.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-12-15.

What are the main provisions?

Key points include:

  • A new 1% annual tax on the estimated value of residential properties owned by foreign persons and occupied for less than 180 days per year.
  • Applies to single-family homes, structures with four or fewer residential units, and various types of condominium or rowhouse units.
  • Occupancy is defined by continuous stay for at least one month by a U.S. citizen, permanent resident, authorized worker, or the owner/their family (if it's their primary residence).
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Jacobs, Chris [R-NY-27].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Real Estate