Ends tax breaks for landlords who hoard single-family homes

Excludes certain owners of single family residential rental properties who own more than one single family residential rental property from being eligible for credits for interest payments and depreciation for such rental properties; provides exceptions for qualified nonprofit organization; defines terms; grants the commissioner of taxation and finance the authority to make rules and regulations pertaining to carrying out such provisions and preventing avoidance of compliance with such provisions.

Introduced· 2025-01-22

Who's it for

Who's it for: Everyday People

What it means for you

8/10Helps you

Good for everyday people ·

Cost shift

Plain‑English summary, cross‑checked against the official bill text.

This bill would stop landlords who own multiple single-family homes from getting special tax breaks unless they sell the house to a regular person or a nonprofit.

Our take

What we think, in plain words.

Right now, the tax code rewards investors who buy up multiple starter homes and rent them out. This makes it harder for regular families to buy a house. This bill would help level the playing field. It would take away special tax breaks from landlords who hoard single-family homes. It would also let them keep the tax break for the year they sell the house to a real person or an affordable housing group. If you want more homes available for regular buyers instead of investors, this bill is a great step.

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The facts

What the bill actually says, no spin.

Would take away tax credits for interest and depreciation from landlords who own more than one single-family rental property.
Defines a single-family rental as a building with four or fewer units.
Would still allow the tax breaks if the landlord sells the home to someone who will actually live there.
Would also allow the tax breaks if the home is sold to an affordable housing nonprofit or land trust.
Does not apply to newly built homes or low-income housing properties.