Precludes a covered institutional investor or affiliate entities from purchasing or acquiring single-family residential real estate property

HB 3191 prohibits "covered institutional investors" (including hedge funds, private equity funds, REITs, and similar investment vehicles that pool capital for rental or appreciation) from purchasing or acquiring single-family residential properties in Missouri after January 1, 2027. Existing owners of such properties before that date may continue owning them but must pay annual penalties ($2,500-$5,000 per property depending on portfolio size) and file yearly reports with the Department of Revenue. The law exempts primary residences, family-owned businesses, nonprofits, and properties acquired through foreclosure or inheritance. It also allows owners to avoid future penalties by selling properties, but prohibits expanding portfolios after 2027. The bill takes effect January 1, 2027, with enforcement by the Attorney General and Department of Revenue.