S.Amdt. 4325

SA 4325. Mr. SCHIFF submitted an amendment intended to be proposed by
him to the bill H.R. 6644, a bill to increase the supply of housing in
America, and for other purposes; which was ordered to lie on the table;
as follows:

At the appropriate place, insert the following:

SEC. __. PROHIBITION ON SOLICITATION BY INSTITUTIONAL
INVESTORS AFTER MAJOR DISASTERS.

Title IV of the Robert T. Stafford Disaster Relief and
Emergency Assistance Act (42 U.S.C. 5170) is amended by
adding at the end the following:

``SEC. 431. PROHIBITION ON SOLICITATION BY INSTITUTIONAL
INVESTORS.

``(a) Institutional Investor Defined.--In this section, the
term `institutional investor' means, with respect to any
taxable year, any individual or entity that owns, directly or
indirectly, not less than 75 single-family homes.
``(b) Prohibition.--During the 6-month period following the
declaration of a major disaster under section 401, an
institutional investor may not make an offer to purchase a
property, including any lot, parcel, or home, located within
the area affected by the major disaster--
``(1) through the mail or any interstate wire; or
``(2) through any other type of solicitation or method of
contact.
``(c) Severability.--If any provision of this section or
the application of such provision is held to be
unconstitutional, the remainder of this section, and the
application of the provision to any other person or
circumstance, shall not be affected.''.
______