Housing Bill Preview

**119th CONGRESS**  

**S. ___**

To regulate ownership of single-family homes and farmland in the United States, limit property ownership, restrict foreign ownership, promote equitable access to housing and agricultural land, impose penalties for non-compliance, and ensure passage of this Act in its entirety without amendment.

**IN THE SENATE OF THE UNITED STATES**  

**July 25, 2025**

Mr. [Sponsor TBD] introduced the following bill; which was read twice and referred to the **Committee on Banking, Housing, and Urban Affairs**.

**A BILL**

To regulate ownership of single-family homes and farmland by American citizens, trusts, and companies, limit the number of properties owned, restrict foreign ownership, promote equitable access to housing and agricultural land, establish penalties for non-compliance, and ensure passage of this Act in its entirety without amendment.

**Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,**

### SECTION 1. SHORT TITLE.

This Act may be cited as the “Fair Home Ownership and Land Access Act of 2025.”

### SECTION 2. FINDINGS AND PURPOSE.

(a) **Findings.** Congress finds that—  

(1) Rising home prices and limited supply of single-family homes have exacerbated housing affordability challenges for American families;  

(2) Excessive ownership of single-family homes and farmland by individuals, trusts, or companies contributes to market concentration and reduces access for first-time buyers and farmers;  

(3) Foreign ownership of U.S. real estate, particularly by entities from adversarial nations, poses potential risks to national security and economic stability;  

(4) Continuous agricultural use of farmland by American citizens or trusts supports food security and economic opportunity;  

(5) The integrity of this Act’s provisions requires passage without amendment to ensure consistent implementation.  

(b) **Purpose.** The purpose of this Act is to—  

(1) Limit the concentration of single-family home and farmland ownership;  

(2) Prohibit foreign ownership of such properties to protect national interests;  

(3) Ensure compliance through transparent enforcement, penalties, and redistribution mechanisms;  

(4) Preserve the Act’s original intent by requiring passage in its entirety.

### SECTION 3. DEFINITIONS.

For purposes of this Act—  

(a) **Single-Family Home.** The term “single-family home” means a residential property designed for occupancy by one family, including detached houses, townhouses, or condominiums, as defined by the Department of Housing and Urban Development (HUD).  

(b) **Farmland.** The term “farmland” means agricultural land used for farming, ranching, or other agricultural purposes, as defined by the Department of Agriculture (USDA).  

(c) **American Citizen.** The term “American citizen” means an individual who is a citizen of the United States under federal law.  

(d) **Citizen Trust.** The term “citizen trust” means a trust in which all beneficiaries and trustees are American citizens.  

(e) **Foreign National.** The term “foreign national” means an individual who is not a citizen or lawful permanent resident of the United States.  

(f) **Foreign Company or Trust.** The term “foreign company or trust” means any entity, including a corporation, partnership, or trust, in which a foreign national or government holds a controlling interest (50% or more).  

(g) **Controlling Interest.** The term “controlling interest” means ownership of 50% or more of an entity’s shares, voting rights, or decision-making authority.  

(h) **Associated Individual.** The term “associated individual” means a person who owns, controls, or benefits from a trust or company, as determined by the Secretary of the Treasury.  

(i) **Continuous Property.** The term “continuous property” means farmland actively used for agricultural purposes without interruption, as verified by the USDA.  

(j) **Investor.** The term “investor” means an individual or entity that has purchased U.S. Treasury securities or other government-backed investments designated by the Secretary of the Treasury.

### SECTION 4. OWNERSHIP LIMITATIONS.

(a) **Eligibility for Ownership.**  

(1) Only American citizens or citizen trusts may own single-family homes or farmland in the United States.  

(2) Foreign nationals, foreign companies, or foreign trusts are prohibited from directly or indirectly owning single-family homes or farmland, including through subsidiaries, affiliates, or other structures.  

(b) **Limit on Number of Properties.**  

(1) An American citizen or citizen trust may own up to 10 single-family homes.  

(2) For citizen trusts, the total number of single-family homes owned shall be attributed to the associated individuals, with each individual limited to 10 homes.  

(3) Farmland owned by American citizens or citizen trusts is exempt from numerical limits, provided the farmland is continuous property and used for active agricultural purposes, as verified by the USDA.  

(c) **Exemptions.**  

(1) This section does not apply to multi-family residential properties, commercial real estate, or non-agricultural land.  

(2) Properties owned by federal, state, or local governments are exempt.  

(3) Farmland actively used for agricultural purposes by American citizens or citizen trusts is exempt from ownership limits, with no time restriction, provided compliance is maintained.  

(d) **Grandfather Clause.** Properties legally owned by foreign nationals, companies, or trusts as of the date of enactment may be retained until sold, subject to Section 6 compliance timelines.

### SECTION 5. NON-AMENDABILITY AND DISTINCT BILL REQUIREMENT.

(a) **Non-Amendability.**  

(1) This Act shall be considered and voted on by the Senate and House of Representatives in its entirety, as introduced, without amendment.  

(2) The Senate and House are urged to adopt a special rule prohibiting amendments to this Act during its consideration in committee or on the floor, recognizing that congressional rules (e.g., Senate Rule XV) may otherwise permit amendments.  

(b) **Distinct Bill Requirement.**  

(1) Any legislation that modifies, alters, or incorporates provisions of this Act with changes shall be considered a separate and distinct bill, requiring a new title, bill number, and legislative process.  

(2) Such modified legislation shall not be deemed an extension or continuation of the “Fair Home Ownership and Land Access Act of 2025.”  

(c) **Congressional Intent.** The provisions of this section are intended to preserve the integrity of the Act’s original design and ensure consistent application of its ownership, enforcement, and penalty mechanisms.

### SECTION 6. COMPLIANCE AND REDISTRIBUTION.

(a) **Compliance Timeline.**  

(1) All owners of single-family homes or farmland, including those with excess properties or foreign ownership, must come into compliance with the ownership limits and eligibility requirements under Section 4 within 24 months of the effective date.  

(2) Within 24 months of the effective date, or upon any change in ownership thereafter, owners must submit a certification form to the Department of the Treasury, identifying the owner or responsible party for each single-family home or farmland parcel and verifying compliance with ownership limits, citizenship requirements, and farmland exemptions.  

(b) **Penalties for Non-Compliance with Home Ownership.**  

(1) Individuals or entities failing to sell excess single-family homes, failing to own at least one single-family home, or failing to submit the required certification form within 24 months of the effective date (or upon change in ownership) shall be subject to a fine of $1,000 to $100,000 per month per property, with the exact amount determined by the Secretary of the Treasury based on property value and non-compliance duration.  

(2) If non-compliance persists for 2 years after fines and notices are issued, the non-compliant property shall be seized by the federal government and sold at public auction.  

(3) Proceeds from the auction shall first be used to pay outstanding fines, with any remaining proceeds distributed to the last owner.  

(c) **Farmland Exemption Compliance.**  

(1) Owners of farmland claiming exemptions under Section 4(b)(3) must submit a certification form to the USDA within 24 months of the effective date, or upon change in ownership, verifying continuous agricultural use.  

(2) Failure to maintain continuous use or submit the required certification shall result in the loss of exemption status, subjecting the farmland to ownership limits and penalties under subsection (b).  

(d) **Government Auctions.**  

(1) Excess or non-compliant single-family homes shall be sold at public auction by HUD, and non-compliant farmland shall be sold by the USDA.  

(2) Auction proceeds, after satisfying fines under subsection (b)(3), shall be allocated to investors holding U.S. Treasury securities or other government-backed investments, as designated by the Secretary of the Treasury.  

(e) **Certification Process.**  

(1) The Secretary of the Treasury, in coordination with HUD and USDA, shall establish a standardized certification form for owners to submit within 24 months of the effective date or upon change in ownership.  

(2) The Department of the Treasury shall maintain a public database to track ownership, certifications, and compliance.

### SECTION 7. ENFORCEMENT.

(a) **Responsible Agencies.**  

(1) The Department of the Treasury, in coordination with HUD and USDA, shall enforce this Act.  

(2) The Committee on Foreign Investment in the United States (CFIUS) shall oversee compliance with foreign ownership restrictions.  

(b) **Penalties for Non-Compliance.**  

(1) In addition to fines under Section 6(b), individuals or entities violating ownership limits, foreign ownership restrictions, or certification requirements shall be subject to civil penalties up to $100,000 per property or 10% of the property’s value, whichever is greater.  

(2) Willful violations may result in criminal penalties, including fines up to $250,000 or imprisonment for up to 1 year, or both.  

(c) **Reporting Requirements.**  

(1) The Secretary of the Treasury shall submit an annual report to Congress on compliance, fines, auctions, and fund allocations to investors.  

(2) The first report shall be submitted no later than 1 year after the effective date.

### SECTION 8. FISCAL IMPACT AND FUNDING.

(a) **Cost Estimate.** The Congressional Budget Office shall provide a cost estimate of this Act’s implementation within 90 days of enactment.  

(b) **Appropriations.** There is appropriated $15,000,000 for fiscal year 2026 to the Department of the Treasury, HUD, and USDA to administer this Act, including database development, auction processes, and enforcement.  

(c) **Offset.** Funds for implementation shall be offset by auction proceeds and fines collected under Section 6.

### SECTION 9. SEVERABILITY.

If any provision of this Act is held invalid, the remainder shall not be affected and shall continue in full force and effect.

### SECTION 10. EFFECTIVE DATE.

This Act shall take effect 180 days after its passage.

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END OF BILL