Home Advantage for American Families Act

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Mar 11, 2021

Home Advantage for American Families Act

This bill requires any foreign person involved in a transaction related to the sale of residential property located in any of the 15 largest metropolitan statistical areas by population to report to the Department of the Treasury information for identifying the person purchasing the property, the amount and source of the funds received by the seller, the date and nature of the transaction, and other information deemed necessary.

The bill also increases (1) from 15% to 30% the rate of withholding on sales proceeds of certain residential real property, and (2) the low-income housing tax credit state ceiling.

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People & committees

Who introduced it

Sen. Rubio, Marco [R-FL] · R–FL

Committees

Finance Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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Mar 11, 2021
Read twice and referred to the Committee on Finance.
Mar 11, 2021
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Mar 11, 2021 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze S.703 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.703, 117th Congress: Home Advantage for American Families Act

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/703

Text version to examine: Introduced in Senate · 2021-03-11.

Official full text: https://www.congress.gov/117/bills/s703/BILLS-117s703is.htm

Imported record last updated by the source: 2025-01-03T04:51:39Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.703 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.703 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss S.703, 117th Congress: Home Advantage for American Families Act

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/703

Text version to examine: Introduced in Senate · 2021-03-11.

Official full text: https://www.congress.gov/117/bills/s703/BILLS-117s703is.htm

Imported record last updated by the source: 2025-01-03T04:51:39Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.703 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.703 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.703, 117th Congress: Home Advantage for American Families Act

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/703

Text version to examine: Introduced in Senate · 2021-03-11.

Official full text: https://www.congress.gov/117/bills/s703/BILLS-117s703is.htm

Imported record last updated by the source: 2025-01-03T04:51:39Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.703 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.703 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.703, 117th Congress: Home Advantage for American Families Act

Official record: https://www.congress.gov/bill/117th-congress/senate-bill/703

Text version to examine: Introduced in Senate · 2021-03-11.

Official full text: https://www.congress.gov/117/bills/s703/BILLS-117s703is.htm

Imported record last updated by the source: 2025-01-03T04:51:39Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.703 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.