To amend the Internal Revenue Code of 1986 to impose an excise tax on the acquisition of single-family homes by certain large investors.

United States117th CongressHR-8582House of Representatives
Updated: Jul 28, 2022

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 texts

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Introduced (House)View official text

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Timeline

  1. Introduced in House

  2. 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.

    House of Representatives

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