Sen. Schiff Introduces Stop Post-Disaster Vultures Act to Block Corporate Home Purchases After Emergencies
A senate committee must act next: committee consideration.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Small-scale real estate investors who own fewer than 75 homes would not be affected by this ban and could still purchase properties in disaster zones. This could give smaller local investors and businesses an advantage over large corporate competitors during the six-month window. However, some small business owners who also own disaster-damaged property would benefit from reduced solicitation pressure.
“the term `institutional investor' means, with respect to any taxable year, any individual or entity that owns, directly or indirectly, not less than 75 single-family homes”
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
U.S. Sen. Adam Schiff introduced federal legislation, S.3961, that would temporarily bar large institutional investors from making offers to purchase property in disaster areas for six months. The bill defines institutional investors as those owning 75 or more single-family homes.
Sen. Adam Schiff's new bill would prohibit institutional investors from making offers on homes or land in federally declared disaster areas for six months. The legislation targets companies owning 75 or more homes to prevent them from taking advantage of vulnerable families after disasters.
While covering a separate bipartisan bill by Sens. Hawley and Merkley, this report highlights the growing momentum in Congress to restrict institutional investors from the housing market, a move supported by the Trump administration and echoed in Schiff's disaster-specific legislation.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
Stop Post-Disaster Vultures Act
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