Bill > SF4102

This bill, effective August 1, 2026, prohibits private equity companies from owning single-family homes, which are defined as residential properties with one to four dwelling units. A private equity company is broadly defined as an investor or group of investors primarily focused on raising capital and investing in or managing assets, including publicly or nonpublicly traded entities, real estate investment trusts (REITs), and investment firms that buy and manage private companies for profit. However, this prohibition does not apply to local, state, or federal government entities, land trusts, certain nonprofit organizations focused on affordable housing, corporations primarily engaged in housing development, or mortgage note holders who acquire homes through foreclosure. The bill also clarifies that it does not prevent individuals from owning homes classified as homestead property for tax purposes, and the Attorney General will be responsible for enforcing these provisions.