An Act to guarantee a tenant’s first right of refusal

This bill gives tenants in multi-unit rental properties the first right to purchase their building if the owner sells due to foreclosure, short sale, or similar circumstances. It requires tenants to form a Tenant Association (representing at least 51% of occupied units) to exercise this right, with the property then becoming Long-Term Affordable Housing (requiring 30+ years of affordability restrictions for low-income households). Municipalities must adopt this local option for it to apply, and the purchase must be structured through a Tenant Association or its designated entity to ensure the property remains affordable. The bill specifically excludes single-family homes occupied by owners and certain housing types like shelters or temporary dwellings.