118th Congress · SENATE BILLBILL

S. 3402 — End Hedge Fund Control of American Homes Act

“A bill to amend the Internal Revenue Code of 1986 to impose an excise tax on the failure of certain hedge funds owning excess single-family residences to dispose of such residences, and for other purposes.”

Taxation

Introduced Dec 5, 2023

Last action Dec 5, 2023

Pipeline · Bill → Law

Step 1

Introduced

Dec 5, 2023

Step 2

Referred

Dec 5, 2023

Finance

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill imposes an excise tax on hedge fund taxpayers that own a certain number of single-family residences in excess of a specified amount. The bill establishes the Housing Downpayment Trust Fund into which tax revenues from this bill shall be deposited to provide grants for down payment assistance to taxpayers purchasing a single-family residence.

Provisions · 3 sectionsIntroduced in Senate

Timeline · 2 actions

Dec 5, 2023

Introduced in Senate

Dec 5, 2023

Read twice and referred to the Committee on Finance.