HR 9585 · 117th Congress 2021–2023, ended

American Property Act

Introduced Dec 15, 2022 Originated House Sponsor Chris Jacobs R-NY

Fact sheet

Latest action · Dec 15, 2022 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedDec 15, 2022
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

American Property Act

This bill imposes an excise tax on foreign persons who own any specified under-utilized residential real property for more than one-half of any taxable year. The amount of such tax is 1% of the estimated value of such property.

The bill defines specified under-utilized residential real property as any specified residential property located in the United States that is occupied as a dwelling unit for less than 180 days during the taxable year. Specified residential property means a single-family home or structure consisting of four residential units or less, or a part of a building that is a semi-detached house, rowhouse unit, residential condominium unit or other similar premises that is, or is intended to be, a separate parcel or other division of real property, and includes any land that was conveyed with such home, structure, or building.

Cosponsors

Members who signed on, in the order they did.

No cosponsors are on file for this measure.

Actions 2

Everything that happened, newest first.

  1. Dec 15, 2022Introduced in House
  2. Dec 15, 2022Referred to the House Committee on Ways and Means.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
HR 9438American Property ActRelated billDec 6, 2022

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

  1. Dec 15, 2022Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.