[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7186 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 7186

 To amend the Investment Company Act of 1940 to prohibit certain large-
       scale companies from purchasing single family residences.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 21, 2026

 Mrs. Miller of Illinois (for herself and Ms. Boebert) 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-
       scale companies from purchasing single family residences.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``American Family Housing Act''.

SEC. 2. RESTRICTIONS ON PURCHASING SINGLE FAMILY RESIDENCES.

    The Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) is 
amended by inserting after section 12 the following:

``SEC. 12A. RESTRICTIONS ON PURCHASING SINGLE FAMILY RESIDENCES.

    ``(a) In General.--Beginning on the date that is 100 days after the 
date of the enactment of this section, a large-scale company may not--
            ``(1) purchase (including from the Federal Government) any 
        single family residence; or
            ``(2) purchase the equity securities of a qualified issuer 
        if such purchase would result in holding more than 49 percent 
        of the equity securities of such qualified issuer.
    ``(b) Definitions.--In this section:
            ``(1) Large-scale company.--The term `large-scale company' 
        means a registered investment company or private fund with more 
        than $100,000,000,000 in assets under management.
            ``(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) Qualified issuer.--The term `qualified issuer' means 
        an issuer that holds, as assets, more than 100 single family 
        residences.
            ``(4) Single family residence.--The term `single family 
        residence'--
                    ``(A) means a residence--
                            ``(i) consisting of 1 dwelling unit built 
                        for one household to live in; and
                            ``(ii) that functions as an independent 
                        living space without shared walls or shared 
                        utilities; and
                    ``(B) does not include a dwelling unit in a 
                condominium or cooperative housing project.''.
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