H.R. 7186

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7186 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 7186

To amend the Investment Company Act of 1940 to prohibit certain large-
scale companies from purchasing single family residences.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

January 21, 2026

Mrs. Miller of Illinois (for herself and Ms. Boebert) introduced the 
following bill; which was referred to the Committee on Financial 
Services

_______________________________________________________________________

A BILL

To amend the Investment Company Act of 1940 to prohibit certain large-
scale companies from purchasing single family residences.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``American Family Housing Act''.

SEC. 2. RESTRICTIONS ON PURCHASING SINGLE FAMILY RESIDENCES.

The Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) is 
amended by inserting after section 12 the following:

``SEC. 12A. RESTRICTIONS ON PURCHASING SINGLE FAMILY RESIDENCES.

``(a) In General.--Beginning on the date that is 100 days after the 
date of the enactment of this section, a large-scale company may not--
``(1) purchase (including from the Federal Government) any 
single family residence; or
``(2) purchase the equity securities of a qualified issuer 
if such purchase would result in holding more than 49 percent 
of the equity securities of such qualified issuer.
``(b) Definitions.--In this section:
``(1) Large-scale company.--The term `large-scale company' 
means a registered investment company or private fund with more 
than $100,000,000,000 in assets under management.
``(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) Qualified issuer.--The term `qualified issuer' means 
an issuer that holds, as assets, more than 100 single family 
residences.
``(4) Single family residence.--The term `single family 
residence'--
``(A) means a residence--
``(i) consisting of 1 dwelling unit built 
for one household to live in; and
``(ii) that functions as an independent 
living space without shared walls or shared 
utilities; and
``(B) does not include a dwelling unit in a 
condominium or cooperative housing project.''.
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