Bill > SB00442

This bill proposes several key measures to address corporate ownership of residential properties and improve homeownership opportunities. Specifically, the bill would prohibit out-of-state hedge funds from purchasing single-family homes, create a separate bidding process at foreclosure auctions that gives individual buyers a better chance to compete with large investors, encourage municipalities to support community land trusts and housing cooperatives (which are alternative ownership models that can make housing more affordable), require private equity firms and large investors to provide comprehensive details about their property holdings, and establish a limit on the number of single-family homes that can be owned by a corporate entity. The overall purpose of these provisions is to make homeownership more accessible and affordable by reducing the ability of large corporate investors to dominate the residential real estate market, particularly in single-family home segments. By creating more opportunities for individual buyers and promoting community-based housing solutions, the bill aims to address challenges in housing affordability and ownership.

Housing and Urban Affairs

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00442&which_year=2025