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Stop Wall Street Landlords Act: Changes for Large Real Estate Investors

This act aims to curb the activities of large investors in the single-family home market. It introduces new tax rules and restricts access to federal mortgage assistance for companies owning multiple properties. The goal is to make homes more accessible to ordinary citizens and support affordable housing.
Key points
Large investment firms (assets over $100 million) will not be able to deduct mortgage interest and depreciation expenses for single-family homes.
An excise tax will be imposed on the sale of single-family homes by large investors, equal to the sale price of the property.
Funds from the excise tax will be allocated to support housing for low-income families.
Fannie Mae, Freddie Mac, and Ginnie Mae will be prohibited from providing new mortgage assistance or guarantees to large investors purchasing single-family homes.
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Expired
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Additional Information
Print number: 118_HR_10028
Sponsor: Rep. Khanna, Ro [D-CA-17]
Process start date: 2024-10-22
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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

Stop Wall Street Landlords Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10028.

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 2024-10-22.

What are the main provisions?

Key points include:

  • Large investment firms (assets over $100 million) will not be able to deduct mortgage interest and depreciation expenses for single-family homes.
  • An excise tax will be imposed on the sale of single-family homes by large investors, equal to the sale price of the property.
  • Funds from the excise tax will be allocated to support housing for low-income families.
  • Fannie Mae, Freddie Mac, and Ginnie Mae will be prohibited from providing new mortgage assistance or guarantees to large investors purchasing single-family homes.
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. Khanna, Ro [D-CA-17].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Taxes Real Estate Economy