II 118th CONGRESS 1st Session S. 3402 IN THE SENATE OF THE UNITED STATES December 5, 2023 Mr. Merkley (for himself and Ms. Smith ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 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.