H.R. 7221

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7221 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 7221

To amend the Investment Company Act of 1940 to prohibit certain large 
private funds and registered investment companies from purchasing 
single family homes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

January 22, 2026

Mrs. Luna 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 
private funds and registered investment companies from purchasing 
single family homes.

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 ``Stopping Wall Street From Competing 
With Main Street Homebuyers Act''.

SEC. 2. RESTRICTIONS ON PURCHASING SINGLE FAMILY HOMES.

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 HOMES.

``(a) In General.--Beginning on the date that is 90 days after the 
date of the enactment of this section, a covered fund may not purchase 
a single family home.
``(b) Divestment Required.--
``(1) In general.--Not later than 10 years after the date 
of the enactment of this section, a covered fund may not hold 
(including through a subsidiary or parent company) any single 
family homes.
``(2) Phased divestment.--In the case of a covered fund 
that holds single family homes on the date of the enactment of 
this section, such fund shall, annually for the 10-year period 
following such date of enactment, divest of at least 10 percent 
of such single family homes.
``(c) Definitions.--In this section:
``(1) Covered fund.--The term `covered fund' means a 
registered investment company, real estate investment trust, or 
private fund--
``(A) with more than $500,000,000 in assets under 
management; or
``(B) that, during the 1-year period before the 
date of the enactment of this section--
``(i) owned 100 or more single-family homes 
in the United States; or
``(ii) purchased more than 5 single-family 
homes in the United States in a 30-day period.
``(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) Single family home.--The term `single family home' 
means a residential structure or mobile home which contains one 
family housing unit.''.
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