Bill > HR7586

This bill, titled the "American Families First Act," aims to restrict the sale of single-family homes financed by the Federal Government to large institutional investors. It requires several federal secretaries and agency heads, including those from Agriculture, Housing and Urban Development, Veterans Affairs, General Services, and the Federal Housing Finance Agency, to issue guidance within 180 days. This guidance will instruct agencies and government-sponsored enterprises to define what constitutes a "large institutional investor" for their specific agency, prevent these investors from acquiring single-family homes that could be bought by individual owner-occupants, and restrict the transfer of federal assets like homes to such investors. The bill also mandates promoting the sale of government-owned properties to individual owner-occupants through measures like anti-circumvention rules, giving buyers a first chance to purchase, and requiring disclosures. While prioritizing individual buyers, the guidance will include exceptions for build-to-rent properties planned and constructed as rental communities, and other narrowly tailored exceptions deemed appropriate to support individual owner-occupants.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/7586/all-info