American Property Act

Summary

American Property Act This bill imposes an excise tax on foreign persons who own any specified under-utilized residential real property for more than one-half of any taxable year. The amount of such tax is 1% of the estimated value of such property. The bill defines specified under-utilized residential real property as any specified residential property located in the United States that is occupied as a dwelling unit for less than 29 days during the taxable year. Specified residential property means a single-family home or structure consisting of four residential units or less, or a part of a building that is a semi-detached house, rowhouse unit, residential condominium unit or other similar premises that is, or is intended to be, a separate parcel or other division of real property, and includes any land that was conveyed with such home, structure, or building.

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Timeline

1. 6 December 2022

   Introduced

   Introduced in House

   Source: IntroReferral

2. 6 December 2022

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

3. 6 December 2022

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 6 December 2022 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 6 December 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 6 December 2022

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 6 December 2022

  Open at official source

Sponsors

• Chris Jacobs · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← American Property Act