Prohibits certain corporations from acquiring residential real estate in this state

SB 683 would prohibit specific corporations from purchasing residential homes or apartment buildings within the state. It directly affects large real estate investment firms or corporations that typically buy residential properties at scale. The bill’s key provision bans these entities from acquiring new residential real estate, aiming to limit corporate ownership in housing markets. This policy change would apply statewide to the defined corporations listed in the bill. The bill is currently under review by the Senate General Laws Committee.