Bill > HB305

This bill introduces the "Protect the Dream Act," which aims to restrict large investment entities from acquiring single-family dwellings in Georgia. Specifically, the bill defines a "prohibited business" as any investment entity with at least $6.25 million in assets or holding interests in 25 or more single-family dwellings in a single county, and prohibits such entities from purchasing single-family homes. The definition of a single-family dwelling is broad, including manufactured home communities and properties with two or more dwellings, but excludes condominiums, townhouses, multifamily communities, foreclosed properties, and homes used as primary residences by business owners. The bill provides exceptions for non-profit organizations and homebuilders, and will become effective on July 1, 2025, applying to property conveyances on or after that date. The goal appears to be protecting individual homeownership and preventing large investment firms from dominating the residential real estate market by limiting their ability to purchase single-family homes.

Government Affairs

https://www.legis.ga.gov/legislation/69982