The proposed legislation, General Assembly Raised Bill No. 1423, establishes a task force aimed at studying the implications of corporate acquisitions of residential properties. The task force will investigate several key areas, including the effects on housing affordability, rental prices, and homeownership opportunities in the state. Additionally, it will explore potential issues related to requiring large corporate entities to bid separately at foreclosure auctions, disclose their ownership of residential properties, and consider policies that could limit the number of residential properties owned by these entities.

The task force will consist of various members appointed by legislative leaders and will include the Commissioner of Housing or their designee. Initial appointments must be made within thirty days of the bill's passage, and the task force is required to submit a report with findings and recommendations by February 1, 2026. The task force will dissolve upon submitting this report or on the same date, whichever is later. The bill introduces new legal language to establish this task force and its functions, while no deletions from current law are specified.