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Stop Wall Street Landlords Act of 2022

USA117th CongressHR-9246| House 
| Updated: 10/28/2022
Ro Khanna

Ro Khanna

Democratic Representative

California

Cosponsors (2)
Mark Takano (Democratic)Katie Porter (Democratic)

Ways and Means Committee, Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Stop Wall Street Landlords Act of 2022 This bill denies certain tax and other benefits to large investors whose assets exceed $100 million in a taxable year for investment in single-family housing (i.e., real property including at least one dwelling unit and not more than four units). It denies such investors a tax deduction for interest paid on a single-family home mortgage, for insuring such homes, and for the depreciation of such homes. The bill imposes an excise tax on the sale or transfer of a single-family home by a large investor equal to the price of such home. It allows a tax credit for home sellers equal to the lesser of either the excess of reasonable development costs paid over the sale price, or 35% of the lesser of eligible development costs paid by the taxpayer, or 80% of the national median sale price for homes. The bill prohibits large investors from obtaining certain federal mortgage assistance.
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Timeline
Oct 28, 2022
Introduced in House
Oct 28, 2022
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.
  • October 28, 2022
    Introduced in House


  • October 28, 2022
    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.

Taxation

Related Bills

  • HR 117-5376: Inflation Reduction Act of 2022

Stop Wall Street Landlords Act of 2022

USA117th CongressHR-9246| House 
| Updated: 10/28/2022
Stop Wall Street Landlords Act of 2022 This bill denies certain tax and other benefits to large investors whose assets exceed $100 million in a taxable year for investment in single-family housing (i.e., real property including at least one dwelling unit and not more than four units). It denies such investors a tax deduction for interest paid on a single-family home mortgage, for insuring such homes, and for the depreciation of such homes. The bill imposes an excise tax on the sale or transfer of a single-family home by a large investor equal to the price of such home. It allows a tax credit for home sellers equal to the lesser of either the excess of reasonable development costs paid over the sale price, or 35% of the lesser of eligible development costs paid by the taxpayer, or 80% of the national median sale price for homes. The bill prohibits large investors from obtaining certain federal mortgage assistance.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Oct 28, 2022
Introduced in House
Oct 28, 2022
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.
  • October 28, 2022
    Introduced in House


  • October 28, 2022
    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.
Ro Khanna

Ro Khanna

Democratic Representative

California

Cosponsors (2)
Mark Takano (Democratic)Katie Porter (Democratic)

Ways and Means Committee, Financial Services Committee

Taxation

Related Bills

  • HR 117-5376: Inflation Reduction Act of 2022
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted