Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for co…
The bill imposes an annual excise tax of $10,000 for each single-family residence a covered taxpayer owns above 75 properties. "Single-family residence" is defined to include buildings with up to four dwelling units. Covered taxpayers exclude foreclosure mortgage note holders, 501(c)(3) organizations, builders/rehabilitators, and owners of federally subsidized housing; aggregation rules apply to related entities.
Left emphasizes curbing corporate landlords and funding homebuyer aid
Relative to its intended legislative type, this bill establishes a substantive tax-and-spend framework with concrete primary elements (a specified excise tax formula, exemptions, reporting/penalties, a Trust Fund, and a HUD grant priority).
The bill imposes an annual excise tax of $10,000 for each single-family residence a covered taxpayer owns above 75 properties. "Single-family residence" is defined to include buildings with up to four dwelling units.
Covered taxpayers exclude foreclosure mortgage note holders, 501(c)(3) organizations, builders/rehabilitators, and owners of federally subsidized housing; aggregation rules apply to related entities.
Purchasers must provide identity and transaction certifications, with a $50,000 reporting penalty for failures; revenues fund a new Housing Trust Fund for state down-payment assistance, prioritizing buyers of properties sold by covered taxpayers.
Contentious ideological issue, creates new federal tax affecting powerful interests, limited built-in compromises; possible but unlikely without major amendments.
Relative to its intended legislative type, this bill establishes a substantive tax-and-spend framework with concrete primary elements (a specified excise tax formula, exemptions, reporting/penalties, a Trust Fund, and a HUD grant priority). The bill contains substantive drafting and specification of the principal mechanisms but also contains drafting errors, ambiguities, and missing operational and fiscal detail that limit clarity for implementation and enforcement.
Left emphasizes curbing corporate landlords and funding homebuyer aid
These are examples from the analysis, not a ranked list of the most-affected groups.
Left emphasizes curbing corporate landlords and funding homebuyer aid
Likely broadly supportive because the bill targets large corporate accumulation of single-family homes and creates grant funding for down payment assistance.
Supporters would view it as promoting homeownership and neighborhood stability.
They may worry about short-term rent effects, enforcement gaps, and whether revenues suffice.
Cautiously receptive if the bill is carefully implemented and monitored.
Sees potential to increase owner-occupancy and fund targeted assistance, but worries about market disruption, compliance complexity, and unintended consequences for renters and small landlords.
Likely opposed as an overreach that penalizes property ownership and distorts housing markets.
Views the excise tax and heavy reporting as burdensome, harming investment that contributes to rental supply.
May raise constitutional and property-rights concerns.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Contentious ideological issue, creates new federal tax affecting powerful interests, limited built-in compromises; possible but unlikely without major amendments.
The bill has not accumulated any surfaced votes yet.
Left emphasizes curbing corporate landlords and funding homebuyer aid
Contentious ideological issue, creates new federal tax affecting powerful interests, limited built-in compromises; possible but unlikely wi…
Relative to its intended legislative type, this bill establishes a substantive tax-and-spend framework with concrete primary elements (a specified excise tax formula, exemptions, reporting/penalties, a Trust Fund, and a…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.