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Tax on Investment Funds for Owning Excessive Single-Family Homes

This Act imposes significant excise taxes on large investment funds and REITs that own or acquire an excessive number of single-family residences (1-4 units). The goal is to compel these entities to sell off properties, thereby increasing housing availability for individual families. Revenue generated from these taxes will fund a new trust dedicated to providing down payment assistance to citizens.
Key points
Imposes a 50% tax on the fair market value for large investment entities acquiring new single-family residences.
Annual penalty of $50,000 per home held by a fund above a set limit, forcing a gradual divestment of properties over 9 years.
Establishes a Housing Downpayment Trust Fund, financed by these taxes, to provide grants for families purchasing homes, prioritizing those sold by the taxed entities.
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Additional Information
Print number: 118_HR_6608
Sponsor: Rep. Smith, Adam [D-WA-9]
Process start date: 2023-12-05
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

End Hedge Fund Control of American Homes Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6608.

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 2023-12-05.

What are the main provisions?

Key points include:

  • Imposes a 50% tax on the fair market value for large investment entities acquiring new single-family residences.
  • Annual penalty of $50,000 per home held by a fund above a set limit, forcing a gradual divestment of properties over 9 years.
  • Establishes a Housing Downpayment Trust Fund, financed by these taxes, to provide grants for families purchasing homes, prioritizing those sold by the taxed entities.
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. Smith, Adam [D-WA-9].

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 2025-12-30.

CATEGORIES

Taxes Real Estate Economy