H.R. 7221

119 HR 7221 IH: Stopping Wall Street From Competing With Main Street Homebuyers Act
 U.S. House of Representatives
 2026-01-22
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 I  119th CONGRESS  2d Session  H. R. 7221  IN THE HOUSE OF REPRESENTATIVES   January 22, 2026   Mrs. Luna  introduced the following bill; which was referred to the  Committee on Financial Services    A BILL
To amend the Investment Company Act of 1940 to prohibit certain large private funds and registered investment companies from purchasing single family homes.
1.
Short title
This Act may be cited as the   Stopping Wall Street From Competing With Main Street Homebuyers Act  .
2.
Restrictions on purchasing single family homes
The Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq. ) is amended by inserting after section 12 the following:
12A.
Restrictions on purchasing single family homes
(a)
In general
Beginning on the date that is 90 days after the date of the enactment of this section, a covered fund may not purchase a single family home.
(b)
Divestment required
(1)
In general
Not later than 10 years after the date of the enactment of this section, a covered fund may not hold (including through a subsidiary or parent company) any single family homes.
(2)
Phased divestment
In the case of a covered fund that holds single family homes on the date of the enactment of this section, such fund shall, annually for the 10-year period following such date of enactment, divest of at least 10 percent of such single family homes.
(c)
Definitions
In this section:
(1)
Covered fund
The term  covered fund  means a registered investment company, real estate investment trust, or private fund—
(A)
with more than $500,000,000 in assets under management; or
(B)
that, during the 1-year period before the date of the enactment of this section—
(i)
owned 100 or more single-family homes in the United States; or
(ii)
purchased more than 5 single-family homes in the United States in a 30-day period.
(2)
Private fund
The term  private fund  means an issuer that would be an investment company, but for paragraph (1) or (7) of section 3(c).
(3)
Single family home
The term  single family home  means a residential structure or mobile home which contains one family housing unit.
 .