CONGRESS FOR VOTERS

Josh Hawley (R-MO)

S.Amdt. 4309

S.Amdt. 4309 · Senate amendment

A Republican amendment with 1 Democratic cosponsor · See the cosponsor

Changes H.R. 6644 — 21st Century ROAD to Housing Act

Not adopted

This amendment was never taken up, and the bill finished without it. It was never voted on.

Its path through Congress

  1. Introduced
  2. Pending Consideration
  3. Failed

What this amendment would do

The amendment, titled Homes for American Families, aims to change the Sherman Act by adding a new section regarding residential real estate contracts in restraint of trade. Its purpose is to address the purchase of residential real estate by specific large-scale entities.

Key Changes and Additions

  • Covered Entities: The amendment identifies covered entities as real estate investment trusts, insurance companies, and investment companies or private funds with assets under management of at least $150,000,000 (including those owned or controlled by persons with such assets).

  • Restrictions on Purchases: Any purchase of residential real estate (single-family homes, condominiums, townhouses, or zoned land for these properties) by a covered entity is deemed a civil violation of section 1 of the Sherman Act as a contract in restraint of trade.

  • Exceptions: The rules do not apply to homebuilders, developers, or redevelopers if the residential units are constructed for ownership by someone not prohibited from purchasing them.

  • Enforcement: The Assistant Attorney General for the Antitrust Division of the Department of Justice is directed to prioritize:

  • Reviewing residential real estate purchases by covered entities for anti-competitive effects.

  • Enforcing antitrust laws against covered entities for pricing strategies, coordinated vacancy, and other anti-competitive practices in local markets.

  • Timeline: The amendment applies to purchases made on or after the date of enactment and takes effect 90 days after the Act is enacted.