March 2, 2026
Mr. Schiff introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs
To prohibit solicitation by institutional investors after a major disaster, and for other purposes.
Section 1. Short title
This Act may be cited as the Stop Post-Disaster Vultures Act
.
Sec. 2. Prohibition on solicitation by institutional investors after major disasters
(a) In general
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:
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.