The American Homeownership Act would restrict tax deductions for large corporate investors and institutional landlords who own rental properties, while using the resulting tax savings to fund affordable housing programs and first-time homebuyer assistance. Specifically, the bill prohibits interest and depreciation deductions for institutional investors holding majority stakes in multi-unit buildings and large owners with 50 or more single-family rental units, though it exempts properties sold to individual homebuyers, nonprofits, newly constructed housing, and properties receiving federal affordable housing support. Starting in fiscal year 2026, the legislation would direct 80 percent of tax savings from these restrictions to affordable housing programs and 20 percent toward down payment and closing cost assistance (up to $20,000 per qualified buyer) for first-time homebuyers earning up to 120 percent of area median income. The bill also requires major residential property acquisitions to be reported to federal antitrust authorities and creates a legal presumption that purchases giving a buyer more than 30 percent of a local residential property market violate antitrust laws, strengthening government oversight of housing consolidation.
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