Stop Predatory Investing Act

Summary

Stop Predatory Investing Act This bill prohibits a taxpayer who owns (directly or indirectly) 50 or more single-family residential rental properties (disqualified single-family property owner) from claiming a federal tax deduction for interest paid (or accrued) in connection with such properties or a federal tax deduction for depreciation in connection with such properties. The bill generally defines a single-family residential rental property as any residential rental property containing four or fewer dwelling units and improvements to real property related to such dwelling units. However, under the bill, a disqualified single-family property owner may still claim a tax deduction for interest and depreciation on (1) single-family residential rental property for which the low-income housing tax credit (LIHTC) may be claimed and (2) certain newly constructed single-family residential rental properties. (The LIHTC program awards tax credits for newly-constructed or substantially rehabilitated low-income housing.) The bill also allows a disqualified single-family property owner to claim a federal tax deduction for interest or depreciation in connection with a single-family residential rental property in the year such property is sold if it is sold to an individual for use as a principal residence; a non-profit organization that creates, develops, or preserves affordable housing; certain community development organizations; a land bank; any resident-owned cooperative or community land trust; or a public housing agency subsidiary.

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Timeline

1. 11 March 2025

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 11 March 2025

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

2 official files

• Introduced in Senate

  Introduced in Senate · EN · 11 March 2025

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 11 March 2025

  Open at official source

Sponsors

• Sen. Warnock, Raphael G. [D-GA] · D · Sponsor
• Sen. Smith, Tina [D-MN] · D · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Sen. Baldwin, Tammy [D-WI] · D · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Gallego, Ruben [D-AZ] · D · Sponsor
• Sen. Reed, Jack [D-RI] · D · Sponsor
• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• Sen. Klobuchar, Amy [D-MN] · D · Sponsor
• Sen. Welch, Peter [D-VT] · D · Sponsor
• Sen. Blumenthal, Richard [D-CT] · D · Sponsor
• Sen. Booker, Cory A. [D-NJ] · D · Sponsor
• Sen. Heinrich, Martin [D-NM] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to ← HOMES Act