A bill to amend the Sherman Act to prohibit certain entities from purchasing residential real estate, and for other purposes.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 3937 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 3937 To amend the Sherman Act to prohibit certain entities from purchasing residential real estate, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES February 26, 2026 Mr. Hawley (for himself and Mr. Merkley) introduced the following bill; which was read twice and referred to the Committee on the Judiciary _______________________________________________________________________ A BILL To amend the Sherman Act to prohibit certain entities from purchasing residential real estate, and for other purposes. 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 ``Homes for American Families Act''. SEC. 2. AMENDMENT. (a) In General.--The Sherman Act (15 U.S.C. 1 et seq.) is amended by adding at the end the following: ``SEC. 9. RESIDENTIAL REAL ESTATE CONTRACTS IN RESTRAINT OF TRADE. ``(a) Definitions.--In this section: ``(1) Covered entity.-- ``(A) In general.--The term `covered entity' means-- ``(i) real estate investment trust; ``(ii) an insurance company; or ``(iii) an investment company or private fund-- ``(I) with assets under management of not less than $150,000,000; or ``(II) that is directly or indirectly owned or controlled by a person that directly or indirectly owns or controls 1 or more investment companies or private funds with total assets under management of not less than $150,000,000. ``(B) Aggregation rules.--For purposes of determining the assets under management of an entity under subparagraph (A)(iii), all persons which are treated as a single employer under subsection (b) or (c) of section 414 of the Internal Revenue Code of 1986 shall be treated as one entity. For purposes of this subsection, in applying section 41