This bill aims to prohibit hedge funds, private equity firms, corporations, and other businesses from purchasing single-family residential properties in the state of New Mexico. The legislation is introduced as new material, emphasizing the intent to restrict these entities from entering the single-family housing market.

By implementing this prohibition, the bill seeks to protect individual homebuyers and promote affordable housing options for residents, ensuring that single-family homes remain accessible to families and individuals rather than being acquired by large investment firms.