3.0.0 4352 2026-01-26T15:16:10Z 2026-01-26T15:16:10Z House H HR 2025-07-10 119 https://www.congress.gov/bill/119th-congress/house-bill/4352 <pre>[Congressional Record Volume 171, Number 119 (Thursday, July 10, 2025)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Mrs. SYKES:H.R. 4352.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18[Page H3201]</pre> hswm00 Ways and Means Committee House Standing Referred To 2025-07-10T15:04:15Z 119 969 S 2025-03-11 Read twice and referred to the Committee on Finance. Related bill CRS 2025-07-10 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2025-07-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2025-07-10 Introduced in House IntroReferral 1000 9 Library of Congress S001223 Rep. Sykes, Emilia Strong [D-OH-13] Emilia Sykes D OH Strong 13 N L000602 Rep. Lee, Summer L. [D-PA-12] Summer Lee D PA L. 12 2025-07-10 True Taxation Taxation 2025-07-29T21:27:43Z

00 2025-07-10 Introduced in House 2026-01-26T15:13:26Z <p><strong>Houses Over Middle-Class Exploitation Schemes Act or the HOMES Act </strong></p><p>This bill prohibits a taxpayer who owns (directly or indirectly) 50 or more single-family&nbsp;residential rental properties (disqualified single-family property owner) from claiming a federal tax deduction for interest paid (or accrued) in connection with such properties or a federal tax deduction for depreciation in connection with such properties.</p><p>The bill generally defines a <em>single-family residential rental property</em> as any residential rental property containing four or fewer dwelling units and improvements to real property related to such dwelling units.</p><p>However, under the bill, a disqualified single-family property owner may still claim a tax deduction for interest and depreciation on (1) single-family residential rental property for which the low-income housing tax credit (LIHTC) may be claimed and (2) certain newly constructed single-family residential rental properties. (The LIHTC program awards tax credits for newly-constructed or substantially rehabilitated low-income housing.)</p><p>The bill also allows a disqualified single-family property owner to claim a federal tax deduction for interest or depreciation in connection with a single-family residential rental property in the year such property is sold if it is sold to</p><ul><li>an individual for use as a principal residence;</li><li>a non-profit organization that creates, develops, or preserves affordable housing;</li><li>certain community development organizations;</li><li>a land bank;</li><li>any resident-owned cooperative or community land trust; or</li><li>a public housing agency subsidiary.</li></ul>

Display Title 45 2025-07-24T04:53:26Z Short Title(s) as Introduced 101 2025-07-24T04:53:24Z Introduced in House IH Short Title(s) as Introduced 101 2025-07-24T04:53:24Z Introduced in House IH Official Title as Introduced 6 2025-07-24T04:48:46Z Introduced in House IH Introduced in House 2025-07-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119hr4352ih/xml/BILLS-119hr4352ih.xml 2025-07-10 Referred to the House Committee on Ways and Means. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.