Imposes a transfer tax on single family residences acquired by certain entities and establishes a fund for down payment assistance.
Establishes a transfer tax equal to 50% of the fair market value for single family residences acquired by applicable taxpayers after December 31, 2026. Defines "applicable taxpayer" as entities managing investor funds and fiduciary to those investors. Specifies maximum permissible units of single family residences for different taxpayers over several years. Imposes penalties for failure to report required information.
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