SB1424
Single-family homes; prohibited acquisition and ownership, restrictions, civil penalty.
Summary
As Introduced. Prohibited acquisition and ownership of single-family homes; restrictions; civil penalty.
Restricts any partnership, corporation, or real estate investment trust that manages funds pooled from investors and has $50 million or more in net value or assets under management on any day during a taxable year from acquiring any interest in single-family homes, as defined in the bill, in the Commonwealth ... (More) and requires registration with the Secretary of the Commonwealth by September 1, 2026, for any such business that acquired such interest prior to July 1, 2026. The bill also requires any such business to divest at least 10 percent of such interest per year over a course of 10 years whereby no such business shall own any interest in single-family homes on and after July 1, 2036. (Less)-
Bill History
- 01/16/2025 - Senate: Presented and ordered printed 25104132D
- 01/16/2025 - Senate: Presented and ordered printed 25104132D
- 01/16/2025 - Senate: Referred to Committee on General Laws and Technology
- 01/29/2025 - Senate: Incorporates SB1140(Sturtevant)
- 01/29/2025 - Senate: Reported from General Laws and Technology with substitute and rereferred to Finance and Appropriations (9-Y 6-N)
- 01/29/2025 - Senate: Rereferred to Finance and Appropriations
- 01/29/2025 - Senate: Committee substitute printed 25105837D-S1
- 02/05/2025 - Senate: Left in Finance and Appropriations
