S 3402
End Hedge Fund Control of American Homes Act
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Bill overview
This bill, the "End Hedge Fund Control of American Homes Act," proposes a new excise tax on hedge funds that own a large number of single-family residences. The tax is triggered if a hedge fund fails to sell these "excess" residences after a certain number of years. Revenues generated from this tax would be deposited into a new ‘Housing Downpayment Trust Fund’ to provide grants for down payment assistance to individuals purchasing homes. The bill also establishes rules for determining which hedge funds are subject to the tax and how the trust fund operates.
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Primary sponsor
Cosponsors
Jon Tester
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