Bill > SB01098

This bill establishes a Tenant Opportunity to Purchase (TOP) program that gives tenants in multifamily housing several important rights when their property is being sold. Specifically, tenants would be able to match a third-party offer to purchase the property, team up with an affordable housing purchaser to complete the purchase, or transfer their purchase rights to a nonprofit organization or local housing authority. Importantly, the bill explicitly states that the program cannot regulate or control sales prices, which means property owners would still have flexibility in setting the sale price. The goal of the program appears to be providing tenants with more agency and potential opportunities to maintain their housing stability by giving them a first chance to purchase the property or partner with entities that can help them do so. This type of legislation is designed to help protect tenants from potential displacement and give them a chance to remain in their current homes when properties are being sold.

Housing and Urban Affairs

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB01098&which_year=2025