S 3495
Home Advantage for American Families Act
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Bill overview
The Home Advantage for American Families Act aims to curb the impact of foreign investment in U.S. residential real estate, particularly in large metropolitan areas. It requires foreign buyers of property in these areas to report detailed transaction information to the Treasury Department, increases the withholding tax on property sales to 30%, and boosts the low-income housing tax credit ceiling. The bill also updates the list of the 15 largest metropolitan statistical areas and provides additional incentives for projects utilizing the low-income housing tax credit.
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Primary sponsor
Marco Rubio
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