arrow_back Back to App

Limiting Single-Family Home Ownership and Supporting Homebuyers

This act introduces a tax on entities owning more than 75 single-family residences to curb large-scale ownership. The collected funds will establish a trust fund to provide down payment assistance grants to citizens, making homeownership more accessible. This aims to stabilize the housing market and help individuals purchase their first homes.
Key points
Tax on Excess Homes: Entities owning over 75 single-family residences will pay a $10,000 tax for each home exceeding this limit annually.
Tax Exemptions: The tax does not apply to mortgage note holders through foreclosure, non-profit organizations, home builders/rehabilitators, or owners of federally subsidized housing.
Homebuyer Assistance: Tax revenues will fund a new Housing Trust Fund, providing grants to state housing finance agencies for down payment assistance programs for families.
Priority for Homes from Large Owners: Down payment assistance programs will prioritize families purchasing homes from entities subject to the new tax.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_6630
Sponsor: Rep. Jackson, Jeff [D-NC-14]
Process start date: 2023-12-06
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

American Neighborhoods Protection Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6630.

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 2023-12-06.

What are the main provisions?

Key points include:

  • Tax on Excess Homes: Entities owning over 75 single-family residences will pay a $10,000 tax for each home exceeding this limit annually.
  • Tax Exemptions: The tax does not apply to mortgage note holders through foreclosure, non-profit organizations, home builders/rehabilitators, or owners of federally subsidized housing.
  • Homebuyer Assistance: Tax revenues will fund a new Housing Trust Fund, providing grants to state housing finance agencies for down payment assistance programs for families.
  • Priority for Homes from Large Owners: Down payment assistance programs will prioritize families purchasing homes from entities subject to the new tax.
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. Jackson, Jeff [D-NC-14].

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 2025-12-25.

CATEGORIES

Taxes Real Estate Public Investments