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Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced May 23, 2025 by Pat Harrigan · Last progress 9 months ago
Requires more reporting and disclosure when non‑U.S. persons buy U.S. real estate and creates a yearly State Department list of countries that bar U.S. citizens from owning property. It amends the tax code to remove a prior dollar threshold, expands who must report real‑estate purchases (including closers/transferors), requires buyer identity and price disclosures, adds affidavit and notice rules for potentially disqualified buyers, and updates penalties and related tax reporting rules. Tax provisions apply to taxable years beginning after enactment; the first State Department report is due within 60 days and then annually.