End Hedge Fund Control of American Homes Act

House Bill 6608 - End Hedge Fund Control of American Homes Act: Overview, Status, and Impact

Hozzl · 2024-03-14T04:05:38Z

Explore the details of House Bill 6608 End Hedge Fund Control of American Homes Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

3/14/2024, 4:05 AM

Congressional Summary of HR 6608

End Hedge Fund Control of American Homes Act

This bill imposes an excise tax on hedge fund taxpayers that own a certain number of single-family residences in excess of a specified amount.

The bill establishes the Housing Downpayment Trust Fund into which tax revenues from this bill shall be deposited to provide grants for down payment assistance to taxpayers purchasing a single-family residence.

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Current Status of Bill HR 6608

Bill HR 6608 is currently in the status of Bill Introduced since December 5, 2023. Bill HR 6608 was introduced during Congress 118 and was introduced to the House on December 5, 2023. Bill HR 6608's most recent activity was Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of December 5, 2023

Bipartisan Support of Bill HR 6608

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6608

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 6608

End Hedge Fund Control of American Homes Act

To amend the Internal Revenue Code of 1986 to impose an excise tax on the failure of certain hedge funds owning excess single-family residences to dispose of such residences, and for other purposes.