HR 1745
HOPE for Homeownership Act
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- Passed House
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Bill overview
The HOPE for Homeownership Act aims to address the investment of hedge funds in single-family residences. It proposes a new excise tax on hedge funds that fail to sell excess single-family residences acquired after the bill’s enactment. Specifically, it establishes a system where hedge funds are subject to increasing taxes each year they hold these residences, based on the number of residences they own relative to a maximum permissible limit. Furthermore, the bill disallows mortgage interest deductions and depreciation for owners of these residences who are subject to the excise tax, effectively discouraging investment in excess single-family homes.
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