Stop Post-Disaster Vultures Act
Sen. Schiff Introduces Stop Post-Disaster Vultures Act to Block Corporate Home Purchases After Emergencies
Legislative Progress
Key Points
Impact Analysis
Personal Impact
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”
Milestones
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.
Votes
No votes have been recorded for this legislation yet.
Related News
3 articlesSchiff Bill Would Block Big Investors From Buying in Disaster Zones, but Eaton Fire Properties Are Not Covered
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.
California Senator Aims To Ban 'Predatory' Investors From Buying Lots After Disasters
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.
Bipartisan bill aims to block big investors from buying single-family homes
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.
Source Information
Document Type
Congressional Bill
Official Title
Stop Post-Disaster Vultures Act
Data Sources
Sponsor
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