Excess Ownership of Single-Family Residences Excise Tax (End Hedge Fund Control of Maryland Homes Act of 2025)

SB 510 imposes a special tax on large investment firms (like hedge funds) that acquire or own excessive numbers of single-family homes in Maryland. The tax applies to entities owning more than a specified number of properties, targeting investment firms rather than individual homeowners. Revenue from this tax will fund the Down Payment and Settlement Expense Loan Program, which provides financial assistance to help eligible homebuyers cover down payments and closing costs. The bill creates a dedicated, non-lapsing fund to administer these down payment programs, with tax revenue flowing directly to this program rather than general state funds.