HOPE for Homeownership Act

The HOPE for Homeownership Act would impose an excise tax on hedge funds that acquire or retain excess single-family residences, requiring them to either pay a tax on newly acquired homes (15% of purchase price or $10,000, whichever is greater) or face a $5,000 per-unit tax for each home owned above a declining threshold over time. The bill targets hedge fund taxpayers with $50 million or more in assets under management and applies to single-family residences (1-to-4 unit properties) acquired on or before the bill’s enactment date, with ownership thresholds decreasing annually from 90% to 0% over nine years. It also disallows mortgage interest and depreciation deductions for single-family…

AI summary · The lawmakers haven’t published an official summary of this bill yet, so 52 wrote this one from the bill’s text.