Current status is Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

119th CONGRESS

1st Session

H. R. 3745

1. Short title
2. Excise tax on certain taxpayers failing to sell excess single-family residences
3. Use of tax revenues for down payment assistance grants

1. Short title

This Act may be cited as the "American Neighborhoods Protection Act of 2025".

2. Excise tax on certain taxpayers failing to sell excess single-family residences

(a) In general - Subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter:

(b) Clerical amendment - The table of chapters for subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:

3. Use of tax revenues for down payment assistance grants

(a) Establishment of housing trust fund -

(1) In general - Subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

9512. Housing Trust Fund

(a) Creation of trust fund - There is established in the Treasury of the United States a trust fund to be known as the Housing Trust Fund (hereinafter in this section referred to as the "Trust Fund"), consisting of such amounts as may be appropriated or credited to such Trust Fund as provided in this section and section 9602(b).

(b) Transfers to Trust Fund - There are hereby appropriated to the Housing Trust Fund amounts equivalent to revenues received in the Treasury from the tax imposed by section 5000E.

(c) Expenditures from Trust Fund - Amounts in the Housing Trust Fund shall be available, as provided in appropriations Acts, only for grants under section 3(b) of the American Neighborhoods Protection Act of 2025.

(2) Clerical amendment - The table of sections for subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:

(b) Grants program for down payment assistance programs -

(1) Establishment - The Secretary of Housing and Urban Development shall establish a program under which the Secretary makes grants to State housing finance agencies to establish new or supplement existing programs that provide down payment assistance to families purchasing homes within the State.

(2) Priority - A State housing finance agency that receives a grant under this section shall give priority to families seeking assistance to purchase any single-family residence that is sold or transferred by a covered taxpayer (as defined in section 5000E(b) of the Internal Revenue Code of 1986, as added by section 2).

119-HR3745