I 
118TH CONGRESS 
1ST SESSION H. R. 3533 
To reduce the excessive appreciation of United States residential real estate 
due to foreign purchases. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 18, 2023 
Ms. SALAZAR introduced the following bill; which was referred to the Com-
mittee on Ways and Means, and in addition to the Committee on Finan-
cial Services, for a period to be subsequently determined by the Speaker, 
in each case for consideration of such provisions as fall within the juris-
diction of the committee concerned 
A BILL 
To reduce the excessive appreciation of United States 
residential real estate due to foreign purchases. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Home Advantage for 
American Families Act’’. 
VerDate Sep 11 2014 
23:23 Jun 12, 2023
Jkt 039200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H3533.IH
H3533
pbinns on DSKJLVW7X2PROD with $$_JOB
SEC. 2. EXPANSION OF TOOLS TO COMBAT MONEY LAUN-
DERING. 
(a) IN GENERAL.—Subchapter II of chapter 53 of 
title 31, United States Code, is amended by adding at the 
end the following: 
‘‘§ 5337. Reports on applicable residential property 
‘‘(a) DEFINITIONS.—In this section: 
‘‘(1) APPLICABLE
RESIDENTIAL
PROPERTY.— 
The term ‘applicable residential property’ means 
property described in section 1445(f) of the Internal 
Revenue Code of 1986 and which is located in any 
of the 15 largest metropolitan statistical areas by 
population (as determined by the Office of Manage-
ment and Budget). 
‘‘(2) FOREIGN PERSON.—The term ‘foreign per-
son’ means any person that is not a citizen or per-
manent resident of the United States. 
‘‘(3) SALE OF APPLICABLE RESIDENTIAL PROP-
ERTY.—The term ‘sale of applicable residential prop-
erty’ means the sale of an interest in applicable resi-
dential property. 
‘‘(b) REPORTS.—Any foreign person involved in a 
transaction related to the sale of applicable residential 
property shall submit to the Secretary of the Treasury a 
report with respect to the transaction or any related trans-
action that contains— 
VerDate Sep 11 2014 
23:23 Jun 12, 2023
Jkt 039200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H3533.IH
H3533
pbinns on DSKJLVW7X2PROD with $$_JOB
‘‘(1) the name and any other identification in-
formation that the Secretary determines is necessary 
of the individual purchasing the applicable residen-
tial property; 
‘‘(2) the amount and source of the funds re-
ceived by the seller, as determined by the Secretary; 
‘‘(3) the date and nature of the transaction; 
and 
‘‘(4) any other information, including the iden-
tification of the person filing the report, that the 
Secretary determines is necessary. 
‘‘(c) REGULATIONS.—Not later than 180 days after 
the date of enactment of this section, the Secretary shall 
promulgate regulations carrying out this section.’’. 
(b) TECHNICAL AND CONFORMING AMENDMENT.— 
The table of sections for chapter 53 of title 31, United 
States Code, is amended by adding at the end the fol-
lowing: 
‘‘5337. Reports on applicable residential property.’’. 
(c) LIST OF TOP 15 LARGEST METROPOLITAN STA-
TISTICAL AREAS.—Not less frequently than every 5 years, 
the Director of the Office of Management and Budget 
shall update the list of the 15 largest metropolitan statis-
tical areas by population. 
VerDate Sep 11 2014 
23:23 Jun 12, 2023
Jkt 039200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H3533.IH
H3533
pbinns on DSKJLVW7X2PROD with $$_JOB
SEC. 3. INCREASED WITHHOLDING ON SALE DISPOSITION 
OF CERTAIN UNITED STATES REAL PROP-
ERTY INTERESTS. 
(a) IN GENERAL.—Section 1445 of the Internal Rev-
enue Code of 1986 is amended by redesignating subsection 
(f) as subsection (g) and by inserting after subsection (e) 
the following new subsection: 
‘‘(f) SPECIAL RULE FOR CERTAIN DISPOSITIONS OF 
RESIDENTIAL REAL PROPERTY.— 
‘‘(1) IN GENERAL.—In the case of the disposi-
tion of any applicable residential property, sub-
section (a) shall be applied by substituting ‘30 per-
cent’ for ‘15 percent’. 
‘‘(2) APPLICABLE
RESIDENTIAL
PROPERTY.— 
For purposes of this subsection, the term ‘applicable 
residential property’ means any interest which— 
‘‘(A) is an interest described in section 
897(c)(1)(A)(i), and 
‘‘(B) is an interest in residential real prop-
erty.’’. 
(b) EFFECTIVE DATE.—The amendments made by 
subsection (a) shall apply to dispositions after the date 
which is 60 days after the date of the enactment of this 
Act. 
VerDate Sep 11 2014 
23:23 Jun 12, 2023
Jkt 039200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H3533.IH
H3533
pbinns on DSKJLVW7X2PROD with $$_JOB