US SB969

Denies interest deductions on debt connected to single-family rental properties for taxpayers who own 50 or more such properties (directly or indirectly)

Denies depreciation deductions on single-family rental properties for taxpayers meeting the 50-property threshold

Exempts properties sold to individuals for principal residence use or to qualified nonprofit organizations including community development corporations, land banks, community land trusts, and public housing agency subsidiaries

Exempts properties receiving Low-Income Housing Tax Credits (Section 42) and newly constructed properties that have never been occupied

Applies aggregation rules treating related entities as a single taxpayer; effective for indebtedness and property placed in service in taxable years beginning after enactment