# 119-hr-9657: Protecting American Homes from Hedge Funds Act

119-hr-9657, Protecting American Homes from Hedge Funds Act, is a 119th Congress bill sponsored by Rep. Smith, Adam [D-WA-9] (D-WA); status introduced; PRIA reads it as touching household money (as of 2026-07-31).

- Canonical: https://policyrisk.com/legislation/119-hr-9657
- As of: 2026-07-31
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-9657
- Congress: 119
- Title: Protecting American Homes from Hedge Funds Act
- Status: introduced
- Introduced: 2026-07-13
- Sponsor: Rep. Smith, Adam [D-WA-9] (D-WA)
- Cosponsors: 3
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-07-31

## Summary

**Stops large investors—especially hedge funds—from building big portfolios of single‑family homes.** The bill uses steep excise taxes, tighter tax rules, reporting penalties, and limits on federal mortgage support to push investors away from large-scale ownership of 1–4 unit residences.

## Cosponsors (3)

- Rep. Khanna, Ro [D-CA-17] (D-CA), 2026-07-13T00:00:00.000Z
- Rep. Williams, Nikema [D-GA-5] (D-GA), 2026-07-13T00:00:00.000Z
- Rep. Sánchez, Linda T. [D-CA-38] (D-CA), 2026-07-13T00:00:00.000Z

## Provisions PRIA read

- Down-payment help for moderate-income buyers: benefit, medium. If enacted, the bill would create a Housing Downpayment Trust Fund and fund HUD grants to State housing finance agencies. Those grants would pay for down‑payment help, closing cost assistance, and interest‑rate buydowns for households with income at or below 120% of area median income. State agenci…
- New buyer reporting and penalty rules: cost, high. If enacted, buyers who are individuals would have to sign a certification when buying a single‑family home from a covered fund. The bill would require reporting of acquisition dates and whether the buyer already owns other single‑family homes. Failure to report or submitting false information could…
- Higher taxes for funds that buy homes: cost, high. If enacted, the bill would charge big new taxes and limits on pooled funds that buy or hold single‑family homes. Covered fund managers would face a 50% excise tax on each newly acquired home in tax years after enactment. Funds that hold more homes than allowed would pay $50,000 for each excess home…
- Limits on federal support for investor mortgages: cost, medium. If enacted, the bill would bar Fannie Mae and Freddie Mac from newly buying, lending on, or securitizing mortgages where the mortgagee is a specified large investor. It would also bar Ginnie Mae from newly guaranteeing or acquiring securities backed by such mortgages. These prohibitions would take…

## Related bills

- 119-hr-8800: National Defense Authorization Act for Fiscal Year 2027
- 119-hr-3838: Streamlining Procurement for Effective Execution and Delivery and National Defense Authorization Act for Fiscal Year 2026
- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7973: Momnibus Act
- 119-hr-3971: Domestic Workers Bill of Rights Act
- 119-hr-3069: Medicare for All Act

## Sources
- [119-hr-9657 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/9657)

## Related
- [119-hr-8800: National Defense Authorization Act for Fiscal Year 2027](https://policyrisk.com/legislation/119-hr-8800)
- [119-hr-3838: Streamlining Procurement for Effective Execution and Delivery and National Defe…](https://policyrisk.com/legislation/119-hr-3838)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-3971: Domestic Workers Bill of Rights Act](https://policyrisk.com/legislation/119-hr-3971)
- [119-hr-3069: Medicare for All Act](https://policyrisk.com/legislation/119-hr-3069)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-9657 (as of 2026-07-31).