The bill, H.B. No. 2910, aims to regulate the ownership and rental of single-family homes by corporate entities in Texas. It introduces new sections to the Education 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 trends. Additionally, a statewide database will be created to maintain cumulative information on corporate ownership, which will be accessible to the public without any fees.

Furthermore, the bill adds Subchapter H to the Property Code, defining corporate ownership and establishing limitations on the number of single-family homes a corporate owner can hold for rental purposes, capping it at ten homes. It also outlines enforcement mechanisms, including civil penalties for violations, which can amount to $100,000 for each home exceeding the limit. The bill provides exceptions for certain entities and establishes a timeline for compliance, with the provisions taking effect on September 1, 2025.

Statutes affected:
Introduced: ()