HOPE for Homeownership Act | ChamberLight

IN COMMITTEE· 119TH CONGRESS

House BillHR 1745Taxation

HOPE for Homeownership Act

INTRO FEB 27· LAST ACTION FEB 27

READING

11MIN

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WHAT THE BILL DOES

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This bill matters because it tries to address concerns about housing affordability and accessibility, especially in hot real estate markets. Many people are worried that large investment firms buying up homes are making it harder and more expensive for individuals and families to become homeowners. If this bill passes, it could change how the housing market works by making it less attractive for corporations to own single-family homes. This might lead to more homes being available for individual buyers, potentially easing price increases and creating more opportunities for homeownership.

If the bill does not pass, the trend of large funds acquiring single-family homes might continue or even grow, potentially making it harder for individual homebuyers. The bill aims to intervene in this market trend by creating financial disincentives for corporate real estate speculation, prioritizing individual homeownership over large investment portfolios in residential properties.

KEY PROVISIONS

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PROVISION 01

Imposes an initial excise tax on hedge funds for newly acquired single-family residences equal to the greater of 15% of the purchase price or $10,000.

This makes new home acquisitions significantly more costly for hedge funds, discouraging them from buying homes that individuals might otherwise purchase.

PROVISION 02

Establishes an annual excise tax of $5,000 per property for "excess" single-family residences owned by certain applicable taxpayers.

This creates an ongoing financial incentive for large investors to sell off their existing portfolios of single-family homes.

PROVISION 03

Defines a declining "maximum permissible units" for applicable taxpayers over nine years, aiming for hedge funds to eventually own zero and other applicable taxpayers to own no more than 50 of their pre-existing single-family residences.

This provision sets the mechanism for gradually phasing out large-scale corporate ownership of a specific category of single-family homes.

PROVISION 04

Specifies that single-family residences sold in "disqualified sales" (e.g., to other corporations) still count towards the taxpayer's ownership limit.

This prevents funds from simply transferring properties between corporate entities to avoid the tax and ensures homes are made available to individual buyers.

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ACTION TIMELINE

2 EVENTS

FEB 27

Introduced in House

INTROREFERRAL

FEB 27

Referred to the House Committee on Ways and Means.

HOUSE · INTROREFERRAL

BILL INFO

TypeHouse Bill

NumberHR 1745

Congress119th

StatusIn Committee

IntroducedFeb 27, 2025

Last actionFeb 27, 2025

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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED FEB 27, 2025

House BillHR 1745Taxation

HOPE for Homeownership Act

INTRODUCED FEB 27, 2025· LAST ACTION FEB 27, 2025

PASSAGE CHANCES

—%

READING

11 min

COSPONSORS

COMPLEXITY

Moderate

Call my reps Congress.gov

LEGISLATIVE PROGRESS

STEP 2 OF 8

Introduced

In Committee

Reported

Passed House

Passed Senate

Conference

To President

Became Law

Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law

WHAT THE BILL DOES

AI-written

KEY PROVISIONS

AI-extracted

high

Imposes an initial excise tax on hedge funds for newly acquired single-family residences equal to the greater of 15% of the purchase price or $10,000.

This makes new home acquisitions significantly more costly for hedge funds, discouraging them from buying homes that individuals might otherwise purchase.

high

Establishes an annual excise tax of $5,000 per property for "excess" single-family residences owned by certain applicable taxpayers.

This creates an ongoing financial incentive for large investors to sell off their existing portfolios of single-family homes.

high

This provision sets the mechanism for gradually phasing out large-scale corporate ownership of a specific category of single-family homes.

med

Specifies that single-family residences sold in "disqualified sales" (e.g., to other corporations) still count towards the taxpayer's ownership limit.

This prevents funds from simply transferring properties between corporate entities to avoid the tax and ensures homes are made available to individual buyers.

DEADLINES & DATES

AI-extracted

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

after the date of the enactment of this chapter

New acquisitions by hedge funds are taxed if acquired after the date of the enactment of this chapter.

last day of the first full taxable year ending on or after the date of the enactment of this chapter

The 'applicable date' for calculating 'excess single-family residences' is the last day of the first full taxable year ending on or after the date of the enactment of this chapter.

PENALTIES & ENFORCEMENT

AI-extracted

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

TYPE	AMOUNT	WHO
administrative	Greater of 15% of purchase price or $10,000 per newly acquired single-family residence.	Hedge fund taxpayers
administrative	$5,000 per excess single-family residence per taxable year.	Applicable taxpayers

GLOSSARY

AI-written

Excise Tax: A tax on certain goods, services, or activities, rather than on income or property value.
Hedge Fund Taxpayer: A specific type of investment fund, as defined by the bill, that is subject to these new taxes on single-family residences.
Single-Family Residence: A standalone house designed for one family, distinct from multi-family apartments or commercial properties.
Applicable Date: The specific date after which the rules for the 'excess single-family residences' tax begin to apply, typically tied to when the law officially becomes effective.
Adjusted Basis: The original cost of a property, plus the cost of improvements, minus any depreciation. This value is used to determine the 'purchase price' for tax calculations.
Disqualified Sale: A sale or transfer of a single-family residence to another corporate entity that, for tax purposes, does not count as reducing the seller's number of 'excess' homes.

ACTION TIMELINE

2 EVENTS

FEB 27, 25

Introduced in House

INTROREFERRAL

FEB 27, 25

Referred to the House Committee on Ways and Means.

INTROREFERRAL

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HOPE for Homeownership Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

SPONSORSHIP

ACTION TIMELINE

BILL INFO

READER REACTIONS

Discussion

HOPE for Homeownership Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

DEADLINES & DATES

PENALTIES & ENFORCEMENT

GLOSSARY

ACTION TIMELINE

SPONSORS

READER REACTIONS

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Discussion

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