Today’s housing news includes two bills that would change tax and utility rules for borrowers and renters, a new law conveying federal land to an Arizona county, and grants in New York and Virginia.
Bills and tax proposals
- Friedman Bill Would Tax Large Asset-Backed Loans at 23.8%, Exempting Mortgages up to $3 Million: In California, Rep. Laura Friedman introduced the Pay Your Taxes Avoided by Borrowing (TAB) Act. It would impose a 23.8% excise tax, paid by the borrower, on covered loans issued after December 31, 2026, and Friedman says it targets the “buy, borrow, die” strategy.
- Menendez Bill Would Fund Plug-In Solar Rebates and Protect Renters’ Access: In New Jersey, Rep. Rob Menendez introduced the Socket Full of Sunshine Act to expand access to plug-in solar panels. His office says monthly utility bills in New Jersey rose nearly 17 percent in 2025, twice the national average.
Land and local development
- New Law Transfers 232.9 Acres of Forest Land to Gila County for Veterans Retreat: In Arizona, President Donald Trump signed H.R. 837, introduced by Rep. Eli Crane. It lets Gila County take ownership of the Pleasant Valley Ranger District Administrative Site in Young, where the county plans to continue operating a veterans retreat.
- Mount Rogers Planning District Gets $1.5 Million EPA Brownfields Assessment Grant: In Virginia, the EPA awarded the Mount Rogers Planning District Commission a $1.5 million assessment coalition grant, Rep. Morgan Griffith announced. It will support brownfield inventories, planning, environmental assessments, community outreach and cleanup activities.
Housing assistance
- Rochester Program for Gun Violence Survivors Gets $500,000 for Emergency Housing: In New York, Rep. Joe Morelle announced $500,000 in federal funding for Rise Up Rochester’s Safe Housing Gun Violence Response Program. The money will provide relocation assistance and temporary housing support to survivors.
The Friedman and Menendez measures are proposals and have not become law.
