United States 118th Congress Status: In Committee 1 D cosponsors

S 3673 — Affordable Housing and Homeownership Protection Act of 2024

Last action — Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-548.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Affordable Housing and Homeownership Protection Act of 2024This bill imposes an excise tax on a percentage of the price paid by certain investors for the purchase of single-family homes in a taxable year. The amount of the percentage, either 1%, 3%, or 5%, is based on the number of homes owned by an investor. The tax does not apply to new construction, unless such construction replaces an existing single-family home on the same site. The bill requires the Department of the Treasury to allocate or transfer tax revenue generated by this bill to provide additional funding for the Housing Trust Fund and the Capital Magnet Fund. The bill increases from $3 milltion to $7 million the minimum allocation of Housing Trust Funds amounts to states for low-income rental housing or home ownership.

Bill Text

How this bill changes current law

1 change Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill increases the minimum funding allocation for small states in the Housing Trust Fund from $3 million to $7 million.

  • 12 U.S.C. § 4568(c)(4)(C)

    $3,000,000 → $7,000,000

    This change raises the minimum funding threshold for small states in the Housing Trust Fund.

Action History

  1. Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-548.

  2. Introduced in Senate

  3. Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S270)

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation housing
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Frequently asked questions

What does S 3673 do?
Affordable Housing and Homeownership Protection Act of 2024This bill imposes an excise tax on a percentage of the price paid by certain investors for the purchase of single-family homes in a taxable year. The amount of the percentage, either 1%, 3%, or 5%, is based on the number of homes owned by an investor. The tax does not apply to new construction, unless such construction replaces an existing single-family home on the same site. The bill requires the Department of the Treasury to allocate or transfer tax revenue generated by this bill to provide additional funding for the Housing Trust Fund and the Capital Magnet Fund. The bill increases from $3 milltion to $7 million the minimum allocation of Housing Trust Funds amounts to states for low-income rental housing or home ownership.
Who sponsors S 3673?
S 3673 is sponsored by Reed, Jack (Democratic).
What is the current status of S 3673?
This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 3673?
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Last checked for changes 3 months ago · updated continuously

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