Stopping Wall Street From Competing With Main Street Homebuyers Act

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