This bill establishes new regulations in Idaho regarding the ownership of single-family homes by institutional investors. Specifically, it prohibits institutional investors from purchasing or acquiring a controlling interest in single-family home properties starting July 1, 2026. The bill defines "institutional investor" and outlines exceptions for entities such as home builders and family trusts. If an institutional investor acquires control of a single-family home after this date, they must divest the property within 180 days. The bill also empowers the attorney general to enforce these provisions and initiate legal action if necessary.

Additionally, the bill amends existing property ownership laws to clarify who may own property in Idaho, particularly concerning foreign entities. It includes provisions that restrict foreign governments and state-controlled enterprises from acquiring agricultural land, water rights, and mineral rights, with similar divestiture requirements. The bill emphasizes that individuals or entities not classified as institutional investors or foreign entities will not face liability for determining compliance with these new regulations. An emergency clause is included, making the act effective immediately upon the specified date.

Statutes affected:
Bill Text: 55-103