A bill to amend the Internal Revenue Code of 1986 to impose an excise tax on the acquisition of single-family residences by hedge fund taxpayers, and for other purposes.

# Summary of S 3930 **What the Bill Would Do** This bill would create a new federal tax on hedge funds and similar investment firms when they purchase single-family homes. The tax would apply to acquisitions of residential properties designed for one family. The bill aims to discourage large investment companies from buying up single-family homes, which sponsors argue drives up housing costs and reduces available homes for individual buyers. **Who It Affects** The primary targets are hedge funds and other institutional investors that purchase residential properties.

Secondarily, it could affect housing markets and home prices in areas where such investment purchases are common. Regular homebuyers and small-scale investors would not be directly affected by this tax. **Current Status** The bill (S 3930) was introduced in the 119th Congress by Senator Jeff Merkley (D-OR) and is currently in committee, meaning it has not yet been debated or voted on by the full Senate. No further action has been taken at this time.