US SB3754

Imposes a tiered excise tax on single-family home purchases by large investors: 1% for medium-sized investors (16-25 homes), 3% for large investors (26-100 homes), and 5% for giant investors (more than 100 homes)

Exempts tax-exempt affordable housing organizations, state and local governments, public housing authorities, land banks, and community land trusts from the tax

Excludes new construction from the tax unless it replaces a previously purchased single-family home on the same site

Allocates tax revenues to affordable housing programs: 65% to the Housing Trust Fund and 35% to the Capital Magnet Fund

Increases the Housing Trust Fund small state minimum allocation from a flat $3,000,000 to 1.1% of annual funding available under the subsection