HR 9937
Stop Predatory Investing Act
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- Passed House
- Passed Senate
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- Became Law
Bill overview
The Stop Predatory Investing Act aims to limit the ability of large-scale property owners to deduct interest and depreciation on their rental properties. Specifically, it defines a ‘disqualified single family property owner’ as someone owning 50 or more single-family rental properties and prohibits them from deducting interest paid on those properties. The bill also creates a list of qualified nonprofit organizations, such as community development corporations and land trusts, that can qualify for an exception to these deductions if they purchase the properties. Finally, it restricts depreciation deductions for these property owners, with exceptions for sales to individual homebuyers or qualified nonprofits.
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