single-family residences; corporate buyer restrictions.

SB 1442 requires corporations and limited liability companies (LLCs) to register with Arizona’s Corporation Commission before purchasing single-family homes, condos, or townhomes. It mandates registration with the Securities Division (including a fee), creates a public online registry, and imposes a $20,000 civil penalty for non-compliance. The bill also prohibits corporate purchases unless the property has been on the market for over 90 days or the asking price changed. Exemptions include small owners (under 10 properties), government entities, nonprofits, land trusts, group homes, and employers renting to staff. The Commission must annually report all corporate purchases/sales by zip code starting in 2027.