Private equity company ownership of single-family homes limitations provision, attorney general enforcement provisions and penalties

This bill restricts corporate ownership of single-family homes by prohibiting any corporate owner (including corporations, partnerships, or real estate investment trusts) from owning 50 or more such homes. It increases the deed tax rate to 0.5% for transfers of single-family homes to corporate owners (from the standard 0.0033%), with revenues dedicated to affordable housing programs. The bill also creates a statewide landlord database and includes exceptions for government entities, affordable housing nonprofits, and homeowners with homestead property. These changes aim to limit large-scale corporate control of residential housing while funding affordability initiatives.