S 2224
Stop Predatory Investing Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Stop Predatory Investing Act aims to limit the tax benefits associated with owning a large number of single-family rental properties. Specifically, it prohibits taxpayers who own 50 or more such properties from deducting interest paid on those properties and from claiming depreciation deductions. However, exceptions apply for sales to individual homebuyers or qualified nonprofits, and for interest paid in the year the property is sold. The bill also expands the definition of ‘qualified nonprofit organization’ to include community development and land trust entities.
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Primary sponsor
Sherrod Brown
Cosponsors
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