summary
Introduced
02/02/2026
02/02/2026
In Committee
02/19/2026
02/19/2026
Crossed Over
02/19/2026
02/19/2026
Passed
Dead
Introduced Session
2026 Legislative Measures
Bill Summary
The statement includes a measure digest written in compliance with applicable readability standards. Digest: This Act forbids some house purchases by large investors who do not wait 90 days and give notices and awards damages to those who sue law breakers. (Flesch Readability Score: 60.3). Digest: Imposes a waiting period of 90 days on some entities to buy a house made for one family. Allows the Department of Justice to enforce the law. (Flesch Readability Score: 61.5). Prohibits covered entities from purchasing, acquiring or offering to purchase or acquire a single-family residence unless the residence has been listed for sale to the general public for at least 90 days. Provides that the 90-day waiting period restarts each time the sale price is modified. Requires a covered entity or its agent , upon making or accepting an offer to purchase or ac- quire a single-family residence, to submit a completed and notarized disclosure form to the seller or seller’s agent. Requires the covered entity to submit a copy of the same form to the Department of Justice within three days of submitting the form to the seller or seller’s agent. Authorizes the Attorney General any person to bring a civil action in circuit court against a covered entity for declaratory relief, to restrain a threatened or actual a violation of the 90-day waiting period or disclosure form requirements or to otherwise compel compliance with those re- quirements. Authorizes the Attorney General to impose a civil penalty against a covered entity upon finding a violation. Provides for statutory damages.
AI Summary
This bill establishes a 90-day waiting period before certain large investors, defined as "covered entities" that own or have a significant interest in 2,500 or more single-family residences or manage substantial investment funds, can purchase a single-family residence, with exceptions for non-profits, creditors, government-funded projects, and specific community organizations. The waiting period restarts if the sale price is changed, and covered entities must submit a notarized disclosure form to the seller and the Department of Justice when making or accepting an offer, with the Department of Justice publicly posting these forms. Any person can sue a covered entity for violating these requirements, seeking court orders to enforce compliance and potentially receiving statutory damages of $250,000 for illegal purchases or $10,000 for failing to submit the disclosure form, plus attorney fees.
Committee Categories
Housing and Urban Affairs
Sponsors (25)
Ben Bowman (D)*,
Lew Frederick (D)*,
Dacia Grayber (D)*,
Courtney Neron Misslin (D)*,
Lamar Wise (D)*,
Tom Andersen (D),
Willy Chotzen (D),
Lisa Fragala (D),
Mark Gamba (D),
David Gomberg (D),
Ken Helm (D),
Zach Hudson (D),
Shannon Isadore (D),
Cyrus Javadi (D),
Lesly Muñoz (D),
Nancy Nathanson (D),
Rob Nosse (D),
Deb Patterson (D),
Hai Pham (D),
Katherine Pham (D),
Lisa Reynolds (D),
Sue Rieke Smith (D),
Nathan Sosa (D),
Thuy Tran (D),
Mari Watanabe (D),
Last Action
Public Hearing and Possible Work Session scheduled. (on 02/24/2026)
Official Document
bill text
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bill summary
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bill summary
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