Denying Tax Breaks for Large Owners of Single-Family Rental Homes.
This bill aims to discourage large corporate entities from buying up single-family homes by eliminating major tax deductions. Taxpayers owning 50 or more single-family rental properties will lose the ability to deduct interest expenses and depreciation. The goal is to free up housing supply for individual buyers and affordable housing organizations.
Key points
Entities owning 50 or more single-family rental properties will no longer be able to deduct interest payments or claim depreciation on those properties.
These deductions are only allowed if the property is sold to an individual for use as their primary residence or to a qualified affordable housing nonprofit.
The legislation targets institutional investors to potentially increase homeownership opportunities for families and stabilize the housing market.
Status:
Expired
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