Affordable Housing and Homeownership Protection Act of 2024

This bill imposes a tiered tax on large real estate investors purchasing single-family homes. Investors owning 16-25 homes pay a 1% tax, 26-100 homes pay 3%, and over 100 homes pay 5% on each new purchase. It excludes qualifying affordable housing organizations, government entities, public housing authorities, land banks, and community land trusts from the tax. Revenue generated will fund affordable housing programs: 65% to the Housing Trust Fund and 35% to the Capital Magnet Fund. The tax applies to purchases after December 31, 2023, with reporting requirements for investors.