,i  #aaith ,,congress  #b;d ,session    
,h4 ,r4 #gbba  ,,in ,,the ,,house ,,of  
,,representatives  ,january #bb1        
#bjbf,mrs4 ,luna introduced the         
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to amend the ,investment    
,company ,act of #aidj to prohibit      
certain large private funds and         
registered investment companies from    
purchasing single family homes4  #a4    
,short title ,this ,act may be cited as 
the ,stopping ,wall ,street ,from       
,competing ,with ,main ,street          
,homebuyers ,act4  #b4 ,restrictions on 
purchasing single family homes ,the     
,investment ,company ,act of #aidj 7#ae 
,u4,s4,c4 #hj;a-#a et seq47 is amended  
by inserting after section #ab the      
following3  #ab;,a4 ,restrictions on    
purchasing single family homes  7a7 ,in 
general ,beginning on the date that is  
#ij days after the date of the enactment
 of this section1 a covered fund may not
 purchase a single family home4  7b7    

,divestment required  7#a7 ,in general  
,not later than #aj years after the date
 of the enactment of this section1 a    
covered fund may not hold 7including    
through a subsidiary or parent company7 
any single family homes4  7#b7 ,phased  
divestment ,in the case of a covered    
fund that holds single family homes on  
the date of the enactment of this       
section1 such fund shall1 annually for  
the #aj-year period following such date 
of enactment1 divest of at least #aj    
percent of such single family homes4    
7c7 ,definitions ,in this section3 7#a7 
,covered fund ,the term covered fund    
means a registered investment company1  
real estate investment trust1 or private
 fund-- 7,a7 with more than #ejj1jjj1jjj
 in assets under management2 or  7,b7   
that1 during the #a-year period before  
the date of the enactment of this       
section-- 7i7 owned #ajj or more        
single-family homes in the ,united      
,states2 or  7ii7 purchased more than #e
 single-family homes in the ,united     

,states in a #cj-;day period4  7#b7     
,private fund ,the term private fund    
means an issuer that would be an        
investment company1 but for paragraph   
7#a7 or 7#g7 of section #c7;c74  7#c7   
,single family home ,the term single    
family home means a residential         
structure or mobile home which contains 
one family housing unit4  4