# 119-s-3904: American Homeownership Act

119-s-3904, American Homeownership Act, is a 119th Congress bill sponsored by Sen. Warren, Elizabeth [D-MA] (D-MA); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-3904
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-3904
- Congress: 119
- Title: American Homeownership Act
- Status: introduced
- Introduced: 2026-02-24
- Sponsor: Sen. Warren, Elizabeth [D-MA] (D-MA)
- Cosponsors: 20
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Limit large-scale investor ownership of residential housing.** This bill would curb tax breaks and federally backed financing for big investors and large owners, channel savings to HUD programs, and add antitrust rules to discourage concentrated ownership of homes. - Families and homebuyers: Creates a HUD grant fund for "qualified homebuyers" with income limits at or below 120% of area median income or 140% in high-cost areas. Grants may be up to the greater of $20,000 or 10% of the purchase price and can pay down payments, closing costs, or interest-rate buydowns. - Large owners and institutional investors: Would disallow interest and depreciation deductions for applicable residential property owned by institutional investment entities and for single-family portfolios where a "large owner" holds a majority interest in aggregated holdings of at least 50 dwelling units. It would also bar federally backed sales, transfers, or financing of foreclosed or real-estate-owned properties to those entities except for rehab or affordability-preserving financing. - HUD funding and market controls: Directs 80% of estimated tax-savings from the tax limits to the HOME program with 60% of that for new construction and at least half of new-construction funds for extremely low-income households. The remaining 20% funds the homebuyer grant program. The bill also creates antitrust reporting rules and a presumption that acquisitions raising market share above 30% are unlawful under federal antitrust law.

## Cosponsors (20)

- Sen. Merkley, Jeff [D-OR] (D-OR), 2026-02-24T00:00:00.000Z
- Sen. Klobuchar, Amy [D-MN] (D-MN), 2026-02-24T00:00:00.000Z
- Sen. Smith, Tina [D-MN] (D-MN), 2026-02-24T00:00:00.000Z
- Sen. Blumenthal, Richard [D-CT] (D-CT), 2026-02-24T00:00:00.000Z
- Sen. Duckworth, Tammy [D-IL] (D-IL), 2026-02-24T00:00:00.000Z
- Sen. Durbin, Richard J. [D-IL] (D-IL), 2026-02-24T00:00:00.000Z
- Sen. Heinrich, Martin [D-NM] (D-NM), 2026-02-24T00:00:00.000Z
- Sen. Hirono, Mazie K. [D-HI] (D-HI), 2026-02-24T00:00:00.000Z
- Sen. Kaine, Tim [D-VA] (D-VA), 2026-02-24T00:00:00.000Z
- Sen. Kim, Andy [D-NJ] (D-NJ), 2026-02-24T00:00:00.000Z
- Sen. Markey, Edward J. [D-MA] (D-MA), 2026-02-24T00:00:00.000Z
- Sen. Murphy, Christopher [D-CT] (D-CT), 2026-02-24T00:00:00.000Z
- Sen. Schatz, Brian [D-HI] (D-HI), 2026-02-24T00:00:00.000Z
- Sen. Sanders, Bernard [I-VT] (I-VT), 2026-02-24T00:00:00.000Z
- Sen. Schiff, Adam B. [D-CA] (D-CA), 2026-02-24T00:00:00.000Z
- Sen. Van Hollen, Chris [D-MD] (D-MD), 2026-02-24T00:00:00.000Z
- Sen. Welch, Peter [D-VT] (D-VT), 2026-02-24T00:00:00.000Z
- Sen. Booker, Cory A. [D-NJ] (D-NJ), 2026-02-24T00:00:00.000Z
- Sen. Coons, Christopher A. [D-DE] (D-DE), 2026-02-26T00:00:00.000Z
- Sen. Hickenlooper, John W. [D-CO] (D-CO), 2026-02-26T00:00:00.000Z

## Provisions PRIA read

- Homebuyer grants and HOME funding: benefit, high. If enacted, starting in fiscal year 2026 HUD would get annual amounts equal to estimated tax savings from the bill's landlord deduction limits. Eighty percent of those amounts would go to the HOME program for acquisition, rehabilitation, or preservation of affordable housing; 60% of that 80% must f…
- Ban on federal sales to big landlords: benefit, medium. If enacted, covered federal entities like HUD, FHA, VA, USDA, Fannie Mae, Freddie Mac, and Ginnie Mae would be prohibited from selling, transferring, or financing federally backed mortgage loans or covered residential properties to large owners or institutional investment entities. The ban would co…
- Limits on landlord tax deductions: cost, high. If enacted, the bill would disallow interest and depreciation deductions for certain residential rental property when an institutional investment entity or a defined "large owner" holds a majority interest. The rule would apply to applicable residential property and single-family rentals, with exce…
- New antitrust reporting and limits: mixed, medium. If enacted, the bill would treat all residential-property purchases by a person during a calendar year as one acquisition for Hart-Scott-Rodino filing purposes, so yearly totals could trigger notification requirements. The FTC, with DOJ concurrence, would remove prior residential exemptions and add…

## Related bills

- 119-s-5066: Health Equity and Accountability Act of 2026
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026
- 119-s-1503: Equality Act
- 119-s-852: Richard L. Trumka Protecting the Right to Organize Act of 2025
- 119-s-2150: Women’s Health Protection Act of 2025

## Sources
- [119-s-3904 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3904)

## Related
- [119-s-5066: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-s-5066)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503)
- [119-s-852: Richard L. Trumka Protecting the Right to Organize Act of 2025](https://policyrisk.com/legislation/119-s-852)
- [119-s-2150: Women’s Health Protection Act of 2025](https://policyrisk.com/legislation/119-s-2150)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3904 (as of 2026-04-21).