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Taxes on Investment Funds Owning Multiple Single-Family Homes

This act introduces new taxes for large investment funds that own multiple single-family homes. The goal is to encourage these funds to sell off excess properties, potentially increasing housing availability for ordinary citizens and impacting housing market prices. Additionally, these funds will lose the ability to deduct mortgage interest and depreciation on these properties.
Key points
New tax on the acquisition of single-family homes by investment funds: 15% of the purchase price or $10,000, whichever is greater.
Annual tax of $5,000 for each single-family home owned by an investment fund above a set limit, which decreases over time.
Investment funds will not be able to deduct mortgage interest or depreciation for single-family homes for which they pay the new tax.
The aim is to increase housing availability for individuals and reduce the presence of large funds in the real estate market.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1745
Sponsor: Rep. Smith, Adam [D-WA-9]
Process start date: 2025-02-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

HOPE for Homeownership Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1745.

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 2025-02-27.

What are the main provisions?

Key points include:

  • New tax on the acquisition of single-family homes by investment funds: 15% of the purchase price or $10,000, whichever is greater.
  • Annual tax of $5,000 for each single-family home owned by an investment fund above a set limit, which decreases over time.
  • Investment funds will not be able to deduct mortgage interest or depreciation for single-family homes for which they pay the new tax.
  • The aim is to increase housing availability for individuals and reduce the presence of large funds in the real estate market.
What is the specific legal status?

The current status is Introduced.

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. Smith, Adam [D-WA-9].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Taxes Real Estate Economy