Protecting American Homes from Hedge Funds Act imposes tax on hedge funds owning excess single-family residences and uses revenues for down payment.

The Protecting American Homes from Hedge Funds Act imposes an excise tax on hedge funds that own more than a permitted number of single-family residences. The tax applies to hedge funds with over $50 million in net value or assets under management. The tax is intended to incentivize the sale of excess residences. Revenues from the tax fund a Housing Downpayment Trust Fund, which provides grants to State housing finance agencies for down payment assistance programs. These programs assist low-income individuals and families in purchasing single-family homes.

Protecting American Homes from Hedge Funds Act imposes tax on hedge funds owning excess single-family residences and uses revenues for down payment.

The Protecting American Homes from Hedge Funds Act imposes an excise tax on hedge funds that own more than a permitted number of single-family residences. The tax applies to hedge funds with over $50 million in net value or assets under management. The tax is intended to incentivize the sale of excess residences. Revenues from the tax fund a Housing Downpayment Trust Fund, which provides grants to State housing finance agencies for down payment assistance programs. These programs assist low-income individuals and families in purchasing single-family homes.