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.
Status:
Expired
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