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New Tax on Large Investors Buying Single-Family Homes to Fund Affordable Housing.

This bill establishes a new federal tax on large corporations and investors purchasing single-family homes. The goal is to reduce corporate competition in the housing market, potentially making homeownership more accessible for individual families. All revenues generated by this tax are dedicated entirely to funding programs that support the construction and availability of affordable housing.
Key points
A new tax ranging from 1% to 5% of the purchase price is imposed on investors owning more than 15 single-family homes.
The highest tax rate (5%) applies to "giant investors" who own over 100 single-family homes.
100% of the tax revenue is allocated to the Housing Trust Fund and the Capital Magnet Fund to increase the supply of affordable housing.
Minimum funding for small states under the Housing Trust Fund is increased from $3 million to $7 million.
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Expired
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Additional Information
Print number: 118_S_3673
Sponsor: Sen. Reed, Jack [D-RI]
Process start date: 2024-01-25
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Affordable Housing and Homeownership Protection Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3673.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-01-25.

What are the main provisions?

Key points include:

  • A new tax ranging from 1% to 5% of the purchase price is imposed on investors owning more than 15 single-family homes.
  • The highest tax rate (5%) applies to "giant investors" who own over 100 single-family homes.
  • 100% of the tax revenue is allocated to the Housing Trust Fund and the Capital Magnet Fund to increase the supply of affordable housing.
  • Minimum funding for small states under the Housing Trust Fund is increased from $3 million to $7 million.
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. Reed, Jack [D-RI].

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 2025-12-30.

CATEGORIES

Taxes Real Estate Public Investments