Bill > S1796

This bill, known as the Housing Acquisitions Review and Transparency (HART) Act, seeks to modify premerger notification requirements under the Clayton Act by introducing new reporting obligations for residential property acquisitions. The bill defines residential property broadly as dwellings for individuals or households, including multifamily housing, condominiums, and single-family homes, while excluding short-term lodging locations. Under the new provisions, all residential property acquisitions by a single person within a calendar year will be considered a single acquisition, requiring notification to the Federal Trade Commission (FTC) and the Department of Justice's Antitrust Division when the total acquisitions meet certain thresholds. The bill removes an existing exemption for certain property transactions and requires the FTC, in conjunction with the Assistant Attorney General, to develop new rules specifying the form and documentary materials needed to assess whether these property acquisitions might potentially violate antitrust laws. This legislation aims to increase transparency and provide regulatory oversight of large-scale residential property acquisitions, potentially helping to prevent market consolidation and protect housing market competition.

Justice

https://www.congress.gov/bill/119th-congress/senate-bill/1796/all-info