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In their latest attempt to increase home prices, Congress, with full bipartisan support, is considering passing an individual mandate similar to the one in the Health Care law requiring all Americans to purchase a house. Here is the text of the bill:
H.R. 1258
FOR AN ACT ENTITLED, An Act to provide for an individual mandate to adult citizens to provide for the housing of themselves and others.
BE IT ENACTED BY THE UNITED STATES HOUSE OF REPRESENTATIVES:
Section 1. Not later than January 1, 2012, each citizen residing in the United States who has attained the age of twenty-one years shall purchase or otherwise acquire a house suitable to their financial ability sufficient to provide for their ordinary shelter.
Section 2. After January 1, 2012, each citizen residing in the United States shall comply with the provisions of this Act within six months of attaining the age of twenty-one years.
Section 3. After January 1, 2012, each citizen failing to comply with the provisions of this Act shall be subjected to a fine of not less than $5,000 per year and/or 2 years of imprisonment in a federal penitentiary.
H.R. 1258
FOR AN ACT ENTITLED, An Act to provide for an individual mandate to adult citizens to provide for the housing of themselves and others.
BE IT ENACTED BY THE UNITED STATES HOUSE OF REPRESENTATIVES:
Section 1. Not later than January 1, 2012, each citizen residing in the United States who has attained the age of twenty-one years shall purchase or otherwise acquire a house suitable to their financial ability sufficient to provide for their ordinary shelter.
Section 2. After January 1, 2012, each citizen residing in the United States shall comply with the provisions of this Act within six months of attaining the age of twenty-one years.
Section 3. After January 1, 2012, each citizen failing to comply with the provisions of this Act shall be subjected to a fine of not less than $5,000 per year and/or 2 years of imprisonment in a federal penitentiary.
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