Prohibits large-scale companies from buying single family residences or equity securities of qualified issuers.
The American Family Housing Act amends the Investment Company Act of 1940 to restrict large-scale companies from purchasing single family residences or equity securities of qualified issuers. A large-scale company is defined as a registered investment company or private fund with over $100 billion in assets under management. A qualified issuer holds more than 100 single family residences as assets. These restrictions take effect 100 days after the enactment of this Act.
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