A bill to amend the Internal Revenue Code of 1986 to deny interest and depreciation deductions for taxpayers owning 50 or more single family properties.
Stop Predatory Investing Act
This bill denies taxpayers owning 50 or more single family properties any tax deduction for interest paid or accrued in connection with any single family residential rental property. It also disallows depreciation of residential rental property owned by such taxpayers.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
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