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Ending Hedge Fund Control of Homes: New Taxes and Down Payment Assistance.

This law imposes high taxes on large investment funds (hedge funds) owning single-family homes, forcing them to sell most of their properties within nine years. The goal is to increase housing availability for families and individual buyers. Revenue from these taxes will fund a new trust providing down payment assistance to citizens.
Key points
A 50% tax on the fair market value is imposed on investment funds acquiring new single-family residences.
Hedge funds must sell their existing housing inventory over 9 years to avoid a $50,000 annual penalty per excess home.
Tax revenues will establish a fund dedicated to helping families secure down payment assistance for home purchases.
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Expired
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Additional Information
Print number: 118_S_3402
Sponsor: Sen. Merkley, Jeff [D-OR]
Process start date: 2023-12-05
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
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_S_3402.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-12-05.

What are the main provisions?

Key points include:

  • A 50% tax on the fair market value is imposed on investment funds acquiring new single-family residences.
  • Hedge funds must sell their existing housing inventory over 9 years to avoid a $50,000 annual penalty per excess home.
  • Tax revenues will establish a fund dedicated to helping families secure down payment assistance for home purchases.
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 Sen. Merkley, Jeff [D-OR].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Real Estate Economy