119 HR 7221 IH: Stopping Wall Street From Competing With Main Street Homebuyers Act U.S. House of Representatives 2026-01-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS2d SessionH. R. 7221IN THE HOUSE OF REPRESENTATIVESJanuary 22, 2026Mrs. Luna introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo 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.

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