,,ii  #aai? ,,congress  #b;d ,session   
,s4 #cicg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,febru>y #bf1 #bjbf,mr4
 ,hawley 7= himself & ,mr4 ,m]kley7     
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on !     
,judici>y  ,a ,,bill  ,to am5d ! ,%]man 
,act to prohibit c]ta9 entities f       
pur*as+ resid5tial real e/ate1 & = o!r  
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,homes = ,am]ican ,families
 ,act4  #b4 ,am5dm5t  7a7 ,9 g5]al ,!   
,%]man ,act 7#ae ,u4,s4,c4 #a et seq47  
is am5d$ by add+ at ! end ! foll[+3  #i4
 ,resid5tial real e/ate contracts 9     
re/ra9t ( trade  7a7 ,def9itions ,9 ?is 
section3 7#a7 ,cov]$ entity  7,a7 ,9    
g5]al ,! t]m cov]$ entity means-- 7i7   
real e/ate inve/m5t tru/2  7ii7 an      
insurance company2 or  7iii7 an inve/m5t
 company or private fund-- 7,i7 ) assets
 "u managem5t ( n less ?an #aej1jjj1jjj2
 or  7,,ii7 t is directly or indirectly 
own$ or controll$ by a p]son t directly 
or indirectly owns or controls #a or m  

inve/m5t companies or private funds )   
total assets "u managem5t ( n less ?an  
#aej1jjj1jjj4  7,b7 ,aggregation rules  
,= purposes ( det]m9+ ! assets "u       
managem5t ( an entity "u subp>agraph    
7,a77iii71 all p]sons :i* are treat$ z a
 s+le employ] "u subsection 7b7 or 7c7 (
 section #dad ( ! ,int]nal ,rev5ue ,code
 ( #aihf %all be treat$ z "o entity4 ,= 
purposes ( ?is subsection1 9 apply+     
section #dad7;b7 ( su* ,code1 section   
#aefc ( su* ,code %all be appli$ )\t    
reg>d to subsection 7b77#b7 !re(4  7#b7 
,insurance company ,! t]m insurance     
company has ! mean+ giv5 ! t]m 9 section
 #b7;a7 ( ! ,inve/m5t ,company ,act (   
#aidj 7#ae ,u4,s4,c4 #hj;a-#b7;a774     
7#c7 ,inve/m5t company ,! t]m inve/m5t  
company has ! mean+ giv5 ! t]m 9 section
 #c ( ! ,inve/m5t ,company ,act ( #aidj 
7#ae ,u4,s4,c4 #hj;a-#c74  7#d7 ,private
 fund ,! t]m private fund means a       
corporation t w\ld be consid]$ an       
inve/m5t company "u section #c ( !      
,inve/m5t ,company ,act ( #aidj 7#ae    

,u4,s4,c4 #hj;a-#c7 b = ! application ( 
p>agraph 7#a7 or 7#g7 ( subsection 7c7 (
 su* section #c4  7#e7 ,real e/ate      
inve/m5t tru/ ,! t]m real e/ate inve/m5t
 tru/ has ! mean+ giv5 ! t]m 9 section  
#hef ( ! ,int]nal ,rev5ue ,code ( #aihf4
  7#f7 ,resid5tial real e/ate ,! t]m    
resid5tial real e/ate means-- 7,a7 a    
s+le-family home2  7,b7 a condom9ium2   
7,c7 a t[nh\se2 &  7,d7 any l& t has be5
 zon$ by a local gov]nm5t = ! developm5t
 ( a prop]ty describ$ 9 subp>agraphs    
7,a7 ?r\gh 7,c74  7b7 ,contracts 9      
re/ra9t ( trade  7#a7 ,9 g5]al ,except z
 provid$ 9 p>agraph 7#b71 any pur*ase by
 a cov]$ entity ( resid5tial real e/ate 
%all be deem$ a contract 9 re/ra9t (    
trade 9 violation ( section #a1 except t
 ! violation %all be civil only & no    
crim9al p5alty "u t section1 includ+ a  
t]m ( imprisonm5t1 %all apply4  7#b7    
,exceptions ,p>agraph 7#a7 %all n apply 
to a homebuild]1 develop]1 or r$evelop] 
if ! units ( resid5tial real e/ate are  
be+ or h be5 con/ruct$ = own]%ip by a   

p]son or entity t is n prohibit$ f      
pur*as+ resid5tial real e/ate "u ?is    
subsection4  7#c7 ,application ,p>agraph
 7#a7 %all only apply to ! pur*ase (    
resid5tial real e/ate on or aft] ! date 
( enactm5t ( ?is section4  7c7          
,prioritiz$ antitru/ scrut9y & en=cem5t 
,! ,assi/ant ,attorney ,g5]al 9 *>ge ( !
 ,antitru/ ,division ( ! ,dep>tm5t (    
,ju/ice %all prioritize ! review (      
pur*ases ( resid5tial real e/ate by a   
cov]$ entity = anti-competitive effects 
& prioritize en=cem5t ( antitru/ laws1 z
 appropriate1 aga9/ coord9at$ vacancy1  
pric+ /rategies1 & o!r anticompetitive  
practices by cov]$ entities 9 local     
resid5tial real e/ate m>kets4  4  7b7   
,effective date ,?is ,act & ! am5dm5ts  
made by ?is ,act %all take effect on !  
date t is #ij days aft] ! date (        
enactm5t ( ?is ,act4