Bill > SB443

This bill introduces new regulations targeting corporate ownership of single-family rental homes in Texas, requiring the Texas Real Estate Research Center to conduct an annual study and create a public database tracking corporate home ownership. The bill defines a "corporate owner" as any business entity (like corporations, investment funds, or real estate investment trusts) that owns multiple single-family homes for rental purposes, and limits such entities to owning no more than 10 single-family homes in the state at any given time. Each corporate owner will be required to report detailed information about their properties, including the number of homes purchased, sold, and rented, their locations, appraised values, and company contact information. The center must compile this data into an annual report analyzing housing market trends and corporate ownership impacts, and create a searchable online database accessible to the public at no cost. Violations of the ownership limitations will result in a substantial civil penalty of $100,000 per excess property, which can be investigated and pursued by the attorney general, county or district attorneys. The bill includes exemptions for certain entities like government agencies, nonprofits, and specific types of rental situations, and provides a phased implementation timeline, with full compliance required by September 1, 2027.

Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SB443