The bill, S.B. No. 443, aims to regulate the ownership and rental of single-family homes by corporate entities in Texas. It introduces new sections to the Education Code and Property Code, specifically Sections 86.531 and 86.532, which mandate the Texas Real Estate Research Center to conduct an annual study and report on corporate ownership of single-family homes. This report will include data on purchases, rentals, and sales by corporate owners, as well as an analysis of their impact on housing costs and market dynamics. Additionally, a statewide database will be created to maintain and publicly share this information in a searchable format.

Furthermore, the bill imposes limitations on corporate ownership of single-family homes, capping the number of homes a corporate owner can hold for rental purposes to ten. It establishes civil penalties for violations, with fines of $100,000 for each home exceeding this limit. The enforcement of these regulations will be overseen by the attorney general and local district attorneys, who can investigate and take legal action against non-compliant corporate owners. The bill is set to take effect on September 1, 2025, with a grace period until September 1, 2027, for compliance with the ownership limitations.

Statutes affected:
Introduced: ()