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Home Advantage for American Families Act

USA118th CongressHR-3533| House 
| Updated: 5/18/2023
Maria Elvira Salazar

Maria Elvira Salazar

Republican Representative

Florida

Ways and Means Committee, Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Home Advantage for American Families Act This bill requires any foreign person involved in a transaction related to the sale of residential property located in any of the 15 largest metropolitan statistical areas by population to report to the Department of the Treasury information for identifying the person purchasing the property, the amount and source of the funds received by the seller, the date and nature of the transaction, and other information deemed necessary. The bill also increases (1) from 15% to 30% the rate of withholding on the sales proceeds of U.S. real property interests, and (2) the low-income housing tax credit state ceiling.
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Timeline
Feb 28, 2023

Latest Companion Bill Action

S 118-551
Introduced in Senate
May 18, 2023
Introduced in House
May 18, 2023
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.
  • February 28, 2023

    Latest Companion Bill Action

    S 118-551
    Introduced in Senate


  • May 18, 2023
    Introduced in House


  • May 18, 2023
    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

  • S 118-551: Home Advantage for American Families Act of 2023

Home Advantage for American Families Act

USA118th CongressHR-3533| House 
| Updated: 5/18/2023
Home Advantage for American Families Act This bill requires any foreign person involved in a transaction related to the sale of residential property located in any of the 15 largest metropolitan statistical areas by population to report to the Department of the Treasury information for identifying the person purchasing the property, the amount and source of the funds received by the seller, the date and nature of the transaction, and other information deemed necessary. The bill also increases (1) from 15% to 30% the rate of withholding on the sales proceeds of U.S. real property interests, and (2) the low-income housing tax credit state ceiling.
View Full Text

Suggested Questions

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

Timeline
Feb 28, 2023

Latest Companion Bill Action

S 118-551
Introduced in Senate
May 18, 2023
Introduced in House
May 18, 2023
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.
  • February 28, 2023

    Latest Companion Bill Action

    S 118-551
    Introduced in Senate


  • May 18, 2023
    Introduced in House


  • May 18, 2023
    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.
Maria Elvira Salazar

Maria Elvira Salazar

Republican Representative

Florida

Ways and Means Committee, Financial Services Committee

Taxation

Related Bills

  • S 118-551: Home Advantage for American Families Act of 2023
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted