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S 5151 United States Senate · 117th Congress

End Hedge Fund Control of American Homes Act

Summary
End Hedge Fund Control of American Homes Act This bill imposes an excise tax, with certain exclusions, on individuals who own more than 100 single family homes. The amount of such tax is the product of $20,000 and the number of homes owned over 100. The bill establishes a Housing Trust Fund into which the excise tax amounts shall be deposited and used to provide grants for down payment assistance.
Issues: ✓ Budget & TaxesSupports Budget & TaxesImposes excise tax on large property owners to fund housing grants, advancing public service funding and targeting tax loopholes for wealthy owners.95% confidence ✓ HousingSupports HousingImposes tax on large home owners to fund down payment assistance grants, directly advancing affordable housing access through targeted financial support.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Nov 2022
Committee Review
Floor Vote
President
Introduced Nov 30, 2022 Last action Nov 30, 2022
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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Nov 30, 2022
Committee
Read twice and referred to the Committee on Finance.
upper
Nov 30, 2022
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jeff Merkley
Jeff Merkley
DDemocratic
OR
n/a