Bill > S3673

This bill imposes a tax on the purchase of single-family homes by certain large investors to address housing affordability and homeownership issues. The tax rates range from 1% for "medium-sized" investors (those owning 16-25 homes) to 5% for "giant" investors (those owning more than 100 homes). The revenues from this tax will be used to provide additional funding for the Housing Trust Fund and the Capital Magnet Fund, which support affordable housing initiatives. The bill also increases the minimum funding amount for small states under the Housing Trust Fund program.