"Protection of Homeownership and Limiting Institutional Investor Acquisition Act"; imposes limitations and establishes certain incentives and disincentives concerning acquisition of single-family residences.

This bill restricts institutional investors from purchasing single-family homes during the first 90 days they're listed for sale and imposes an annual $25,000 tax per home owned by institutional investors. The tax revenue will fund down payment assistance programs for homebuyers, with priority given to first-time homebuyers purchasing homes from institutional investors. The bill also establishes tax deductions for first-time homebuyers for down payments, mortgage interest, and mortgage insurance. Additionally, it creates a Starter Home Development Incentive Program to encourage construction of starter homes (defined as single-family homes under 1,800 square feet) through tax credits for developers.