Senate Bill 5151
117th Congress(2021-2022)
End Hedge Fund Control of American Homes Act
Introduced
Introduced in Senate on Nov 30, 2022
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
5151
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
End Hedge Fund Control of American Homes Act
This bill imposes an excise tax, with certain exclusions, on individuals who own more than 100 single family homes. The amount of such tax is the product of $20,000 and the number of homes owned over 100.
The bill establishes a Housing Trust Fund into which the excise tax amounts shall be deposited and used to provide grants for down payment assistance.
November 30, 2022
Sort by most recent
11/30/2022
Read twice and referred to the Committee on Finance.
11/30/2022
Introduced in Senate
Bill Intelligence
Key Points
The bill imposes an excise tax on taxpayers who fail to sell excess single-family residences.
A covered taxpayer is defined as a person who owns more than 100 single-family residences.
Tax revenues collected from the excise tax will be used for down payment assistance grants.
Written with ChatGPT·Dec 13, 2023
Text Analyzed:Introduced in Senate
Public Record
Record Updated
Dec 29, 2022 8:33:28 AM