Protecting American Homes from Hedge Funds Act
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.
HB9657 proposes to place a tax on hedge funds that hold onto too many single-family homes. The bill aims to encourage these funds to sell these properties, potentially increasing the number of available homes for rent or purchase. This tax would apply specifically to hedge funds that have an excess number of single-family residences.
The bill would impact hedge funds that own more than a certain number of single-family homes. It would not affect individual homeowners or regular real estate investors. By imposing a tax on excess holdings, the bill seeks to address housing shortages and make homes more accessible.
As of July 13, 2026, HB9657 has just been introduced in the House and referred to the Committee on Ways and Means and the Committee on Financial Services for further review. There have been no significant actions taken on the bill yet.
