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To amend the Investment Company Act of 1940 to prohibit certain large- scale companies from purchasing single family residences.
Summary
This bill amends the Investment Company Act of 1940 to restrict large investment companies and private funds from purchasing single-family homes. The restrictions apply to registered investment companies and private funds with more than $100 billion in assets under management. These companies would be prohibited from directly purchasing single-family residences beginning 100 days after the law takes effect. The bill also prevents such large-scale companies from purchasing more than 49 percent of the equity securities in companies that own more than 100 single-family residences. Single-family homes are defined as independent dwelling units built for one household, excluding condominiums and cooperative housing units.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
7 cosponsors
Money behind the sponsor
Top reported contributors to Mary E. Miller’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $22,349
- SAULSBURY INDUSTRIES $13,200
- THOMPSON THRIFT DEVELOPMENT $11,600
- KASPAR LAW COMPANY $6,600
- INDECK ENERGY SERVICES $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Mary E. Miller → · Outside spending →
Actions (2)
- Jan 21, 2026 Referred to the House Committee on Financial Services. · house
- Jan 21, 2026 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
January 21, 2026
Mrs. Miller of Illinois (for herself and Ms. Boebert) 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- scale companies from purchasing single family residences.
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 “American Family Housing Act”.
SEC. 2. RESTRICTIONS ON PURCHASING SINGLE FAMILY RESIDENCES.
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 RESIDENCES.
“(a) In General.—Beginning on the date that is 100 days after the date of the enactment of this section, a large-scale company may not—
“(1) purchase (including from the Federal Government) any single family residence; or
“(2) purchase the equity securities of a qualified issuer if such purchase would result in holding more than 49 percent of the equity securities of such qualified issuer.
“(b) Definitions.—In this section:
“(1) Large-scale company.—The term ‘large-scale company’ means a registered investment company or private fund with more than $100,000,000,000 in assets under management.
“(2) Private fund.—The term ‘private fund’ means an issuer that would be an investment company, but for paragraph
(1) or (7) of section 3(c).
“(3) Qualified issuer.—The term ‘qualified issuer’ means an issuer that holds, as assets, more than 100 single family residences.
“(4) Single family residence.—The term ‘single family residence’—
“(A) means a residence—
“(i) consisting of 1 dwelling unit built for one household to live in; and
“(ii) that functions as an independent living space without shared walls or shared utilities; and
“(B) does not include a dwelling unit in a condominium or cooperative housing project.”. <all>
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