H.443 proposes the introduction of a new tax specifically targeting residential and commercial properties that are left vacant. The bill aims to address the issue of vacant properties by imposing a tax, thereby encouraging property owners to either occupy or rent out their properties rather than leaving them unutilized.

The bill does not specify any insertions or deletions to current law, focusing instead on establishing the framework for this new tax on vacant properties. The intent is to promote better use of available housing and commercial space, potentially alleviating issues related to housing shortages and urban blight.