Large investment firms would pay new taxes for owning many single-family homes.
This bill would make large investment firms pay new taxes if they buy or own too many single-family homes. It would also stop them from taking certain tax write-offs for these properties. This aims to discourage these firms from holding many homes, potentially making more homes available for individual buyers.
Today, large investment firms can buy and own many single-family homes without specific federal excise taxes, and they can deduct mortgage interest and depreciation. If this bill becomes law, hedge fund taxpayers would pay a tax of at least $10,000 or 15% of the purchase price when buying a new single-family home. Other investment firms would pay a $5,000 tax for each single-family home they own above a shrinking limit. These firms would also lose tax deductions for mortgage interest and depreciation on these properties.
S 788 · 119th Congress · AI Summary by gemini-2.5-flash · 9/10
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4 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.