Bill > SB920

This bill creates new provisions restricting business entities and investment entities from acquiring large numbers of residential properties in Missouri. Specifically, the bill defines business entities and investment entities as for-profit associations, companies, or legal entities, and sets limits on their property ownership: they cannot purchase more than fifty single-family residential properties or more than one hundred residential units in the state. The legislation includes exemptions for properties that need code compliance repairs or for new property construction. The attorney general is empowered to bring legal action against entities violating these restrictions, with potential penalties up to $250,000 and a court-mandated sale of illegally acquired properties within 90 days. The bill excludes certain financial institutions, residential property developers, and home builders from these restrictions. The law would take effect on August 28, 2026, and requires the attorney general to evaluate the effectiveness of the civil penalty amounts every five years, reporting to the general assembly. The primary goal appears to be preventing large corporate entities from monopolizing residential real estate markets and potentially limiting housing availability for individual homeowners.

Labor and Employment

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=520