To impose an excise tax on the failure of certain hedge funds owning excess single-family residences to dispose of such residences, and for other purposes.

Based on the bill's title, this legislation would impose an excise tax on hedge funds that own excess single-family residences and fail to dispose of them within a specified timeframe. The bill aims to address concerns about institutional investment in residential housing stock. The referral to both Ways and Means and Financial Services committees indicates the measure involves both tax policy and financial regulation.

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