H.R. 9246 · 117th Congress
Stop Wall Street Landlords Act of 2022
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KhannaSponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill denies certain tax and other benefits to large investors whose assets exceed $100 million in a taxable year for investment in single-family housing (i.e., real property including at least one dwelling unit and not more than four units).
What it does: CRS summary · Introduced in House · Oct 28, 2022
Stop Wall Street Landlords Act of 2022
This bill denies certain tax and other benefits to large investors whose assets exceed $100 million in a taxable year for investment in single-family housing (i.e., real property including at least one dwelling unit and not more than four units). It denies such investors a tax deduction for interest paid on a single-family home mortgage, for insuring such homes, and for the depreciation of such homes.
The bill imposes an excise tax on the sale or transfer of a single-family home by a large investor equal to the price of such home. It allows a tax credit for home sellers equal to the lesser of either the excess of reasonable development costs paid over the sale price, or 35% of the lesser of eligible development costs paid by the taxpayer, or 80% of the national median sale price for homes.
The bill prohibits large investors from obtaining certain federal mortgage assistance.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Stop Wall Street Landlords Act of 2022
Latest action (Oct 28, 2022): Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Taxation · Origin: House · Introduced: Oct 28, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.