# 119-s-3930: HOPE (Humans over Private Equity) for Homeownership Act

119-s-3930, HOPE (Humans over Private Equity) for Homeownership Act, is a 119th Congress bill sponsored by Sen. Merkley, Jeff [D-OR] (D-OR); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-3930
- 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-3930
- Congress: 119
- Title: HOPE (Humans over Private Equity) for Homeownership Act
- Status: introduced
- Introduced: 2026-02-26
- Sponsor: Sen. Merkley, Jeff [D-OR] (D-OR)
- Cosponsors: 1
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Targets hedge-fund purchases of single-family homes.** This bill would hit large fund managers that buy 1–4 unit residential properties with new taxes and tighter tax rules to discourage investor ownership of single-family housing. - Hedge fund taxpayers that manage pooled investor funds and have $50 million or more in assets would face a 15% excise tax on the purchase price of newly acquired single-family residences, unless the property is used as a principal residence and not rented. - For tax years beginning after December 31, 2030, these hedge fund taxpayers would be denied mortgage interest and depreciation deductions for single-family residences they rent or lease. - For hedge-fund corporations, the bill would raise the corporate surtax by 5 percentage points and adjust Qualified Business Income treatment for affected entities for tax years beginning after December 31, 2035.

## Cosponsors (1)

- Sen. Hawley, Josh [R-MO] (R-MO), 2026-02-26T00:00:00.000Z

## Provisions PRIA read

- Pass-through deduction for hedge funds: benefit, high. This bill would let trades or businesses run by hedge fund taxpayers qualify for the Qualified Business Income (199A) deduction. If enacted, that change would apply to tax years beginning after December 31, 2035. Qualifying hedge funds are the same kinds of entities targeted by the bill’s other rul…
- Higher taxes and fees for hedge funds: cost, medium. This bill would raise the tax cost of single-family housing activity for hedge fund taxpayers. It would impose a 15% excise tax on the purchase price (adjusted basis) of 1-to-4 unit homes bought by qualifying hedge funds, unless the property is used as an owner’s principal residence and never rente…

## Related bills

- 119-s-5238: For Our Republic Act
- 119-s-5071: Children's Safe Welcome Act of 2026
- 119-s-5022: Cannabis Administration and Opportunity Act
- 119-s-2838: Protecting Our Democracy Act
- 119-s-2819: Head Start for America's Children Act
- 119-s-5283: Momnibus Act

## Sources
- [119-s-3930 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3930)

## Related
- [119-s-5238: For Our Republic Act](https://policyrisk.com/legislation/119-s-5238)
- [119-s-5071: Children's Safe Welcome Act of 2026](https://policyrisk.com/legislation/119-s-5071)
- [119-s-5022: Cannabis Administration and Opportunity Act](https://policyrisk.com/legislation/119-s-5022)
- [119-s-2838: Protecting Our Democracy Act](https://policyrisk.com/legislation/119-s-2838)
- [119-s-2819: Head Start for America's Children Act](https://policyrisk.com/legislation/119-s-2819)
- [119-s-5283: Momnibus Act](https://policyrisk.com/legislation/119-s-5283)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3930 (as of 2026-04-21).