SB 463 — Specialized Land Transactions; business enterprises or business enterprises controlled by natural born persons from owning an interest in more than 500 single-family residential properties; prohibit
House Committee Favorably Reported By Substitute
A BILL to be entitled an Act to amend Chapter 3 of Title 44 of the Official Code of Georgia Annotated, relating to regulation of specialized land transactions, so as to prohibit business enterprises or business enterprises controlled by natural born persons from owning an interest in more than 500 single-family residential properties; to prohibit foreign investment vehicles from owning any interest in a single-family residential property to be used as rental property; to provide a private cause of action against a business enterprise that owns an interest in more than 500 single-family residential properties and foreign investment vehicles; to provide for the disclosure of information by brokers; to provide an effective date and applicability; to provide for related matters; to repeal conflicting laws; and for other purposes.
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