The Affordable Housing and Homeownership Protection Act would raise $51 billion over a decade by taxing investors that purchase large numbers of single-family homes, with revenue split between the Housing Trust Fund (HTF) and Capital Magnet Fund (CMF).
Use revenue from taxes on large single-family-home investors to raise about $51 billion over ten years for the Housing Trust Fund and Capital Magnet Fund.
Occurrences
Evidence
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House and Senate leaders reached a bipartisan agreement on the 21st Century Road to Housing Act. The final version removes the Senate's seven-year sell requirement for newly built rental homes and was still expected to pass both chambers the following week.
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Congress said it had reached a deal on a major housing bill, with final Senate approval still expected later that week and a House vote to follow. The package includes a ban on large institutional investors buying single-family homes, but it was not yet signed into law.
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H.R. 6644 (ENR) - 21st Century ROAD to Housing Act; Last Action Date Listed June 25, 2026.
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No additional funds are authorized to be appropriated to carry out the requirements of this Act or any amendment made by this Act.
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No matching text found for "Capital Magnet Fund" in the enacted bill text.
verified · Source version 62472 · locator 1104
Law Number Public Law 119-101 Date Approved July 11, 2026 Full Title An act to increase the supply of housing in America, and for other purposes. Bill Number H.R. 6644
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No large institutional investor may purchase, or enter into a contract to directly or indirectly purchase, any single-family home.
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civil penalties assessed under this section shall be transferred to and available to the Secretary of Housing and Urban Development to provide additional funding for the HOME Investment Partnerships program
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No additional funds are authorized to be appropriated to carry out the requirements of this Act or any amendment made by this Act.
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Mr. Reed (for himself, Ms. Smith, Mr. Blumenthal, Ms. Klobuchar, Ms. Baldwin, Mr. Whitehouse, Mr. Kim, Mr. Gallego, Mr. Murphy, and Ms. Slotkin) introduced the following bill; which was read twice and referred to the Committee on Finance
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The Affordable Housing and Homeownership Protection Act would raise $51 billion over a decade by taxing investors that purchase large numbers of single-family homes, with revenue split between the Housing Trust Fund (HTF) and Capital Magnet Fund (CMF)
Assessments
As of June 20, 2026, this promise had not been delivered. The closest related vehicle was the 21st Century ROAD to Housing Act: the Senate passed a version on March 12, 2026, and leaders announced a House-Senate deal on June 16, 2026, but final passage and presidential signature were still pending. More importantly, the live legislation centered on restricting large institutional investors from buying single-family homes, not on the specific promised mechanism of taxing those investors to raise about $51 billion over ten years for the Housing Trust Fund and Capital Magnet Fund. Smith can receive effort credit because the issue was actively moving through Congress during her term and within her housing-policy lane, but the specific tax-and-funding outcome was not yet enacted.