House Bill 1777, also known as Senate Bill 2126, amends various sections of the Tennessee Code Annotated to establish reporting requirements for real estate investment trusts (REITs) that purchase single-family homes in the state. Specifically, the bill defines a REIT as a business entity that qualifies under federal law and acquires ten or more single-family homes in Tennessee during the calendar year 2025. The comptroller of the treasury is tasked with compiling a report by December 31, 2026, which will include de-identified data on the number of homes purchased by each REIT, their appraised values, and details on whether these homes were acquired through foreclosure, sold, or used as rental properties.

The bill aims to provide transparency regarding the activities of REITs in the single-family housing market, allowing state officials to better understand the impact of these entities on local housing dynamics. The act will take effect upon becoming law, emphasizing the importance of public welfare in its implementation.