To amend the Internal Revenue Code of 1986 to impose an excise tax on the acquisition of single-family homes by certain large investors.
Summary
This bill imposes a 100% excise tax on the purchase of a single-family home by a specified large investor (i.e., any person, other than a tax-exempt charitable organization or a governmental entity, with assets having a fair market value exceeding $20 million). The tax does not apply if the home is used as the principal residence of the investor or the sale to the investor is pursuant to a governmental program for providing housing to low-income individuals.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jul 2022
Committee Review
Floor Vote
President
Introduced Jul 28, 2022
Last action Jul 28, 2022
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jul 28, 2022
Committee
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 consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
Jul 28, 2022
Introduced
Introduced in House
lower
1 primary · 8 co-sponsors
Sponsors
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