Excise tax on transfers of single-family homes by specified large investors

(a) In general Chapter 36 of subtitle D of the Internal Revenue Code of 1986 is amended by inserting after subchapter D the following new subchapter: E Tax on Transfers of Single-Family Homes by Specified Large Investors Sec. 4491. Tax on transfers of single-family homes by specified large investors. 4491. Tax on transfers of single-family homes by specified large investors (a) In general There is hereby imposed a tax on the sale or transfer of a single-family home by a specified large investor in an amount equal to the sale price of the single-family home. (b) Specified large investor; single-family home For purposes of this section, the terms specified large investor and single-family home shall have the respective meanings given such terms in section 280I. (c) Special rules Rules similar to the rules of subsections (b)(2), (d)(1), and (d)(2) of section 280I shall apply for purposes of this section.. (b) Clerical amendment The table of subchapters for chapter 36 of subtitle D of such Code is amended by adding after the item relating to subchapter D the following new item: “Subchapter E. Tax on transfers of single-family homes by specified large investors.”. (c) Effective date The amendments made by this section shall apply to sales and transfers occurring after the date that is 18 months after the date of the enactment of this Act.