What The Vote
Overview

To impose an excise tax on the failure of certain hedge funds owning excess single-family residences to dispose of such residences, and for other purposes.

119-hr9657 — To impose an excise tax on the failure of certain hedge funds owning excess single-family residences to dispose of such residences, and for other purposes.. Sponsored by Rep. Smith, Adam [D-WA-9]. Introduced 2026-07-13. House bill. 119th Congress. Latest action: Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.

119-hr9657 119th Congress House

To impose an excise tax on the failure of certain hedge funds owning excess single-family residences to dispose of such residences, and for other purposes.

Timeline

Rep. Smith, Adam [D-WA-9]
Sponsor
Rep. Smith, Adam [D-WA-9] (D), WA
Introduced
2026-07-13
Committees
Financial Services Committee; Ways and Means Committee
Latest Action
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.

Bill Activity

House
Introduced
2026-07-13
Introduced in House
Referred to Committee
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.
Committee
2026-07-13
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.

How a Bill Becomes a Law

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  1. 1
    Introduced

    A member files the bill in the House or Senate.

  2. 2
    Committee Review

    Referred to committee for hearings, markup, and a vote to advance it.

    This bill is here
  3. 3
    Floor Vote

    The full chamber debates and votes on passage.

  4. 4
    Second Chamber

    If passed, it repeats committee review and a floor vote in the other chamber.

  5. 5
    Resolve Differences

    If the chambers pass different versions, a conference reconciles them.

  6. 6
    Sent to President

    The reconciled bill is enrolled and delivered to the White House.

  7. 7
    Signed or Vetoed

    Becomes law with a signature, or automatically after 10 days.

    ✓ Becomes Law ✗ Vetoed

A veto can still be overridden by a two-thirds vote in both chambers. And once a bill is signed into law, further changes come from new amending legislation — not edits to the original text.

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