Modifies provisions relating to real estate

All provisions requiring wholesalers to provide written disclosure statements, obtain owner signatures, and face penalties for non-compliance were deleted.

New rules were added allowing taxing districts to adjust operating levies to recoup lost revenue when property is reclassified from residential to other uses.

The specific legal definition of a 'wholesaler' and the exclusions for family members or affiliates were removed.

New definitions were added for 'Residential property,' 'Agricultural and horticultural property,' and 'Utility, industrial, commercial, railroad and other real property' to clarify tax classifications.

The bill's title and enacting clause were updated to reflect the new focus on property tax classification rather than real estate wholesaling.

Deleted the entire nuisance abatement section, including rules on who can sue for nuisance, notice requirements, and penalties for non-resident property owners.

Mandated that wholesalers provide a specific written disclosure statement to property owners before entering into a contract, detailing the wholesaler's role and advising the owner to seek legal advice.

Added a new definition for 'wholesaler,' defining it as a person who enters purchase contracts for residential real property with the intent to assign or novate the contract to another party.

Established that failure to provide the required disclosure is an unlawful practice under the Missouri Merchandising Practices Act and allows owners to cancel contracts without penalty.

Removed eligibility criteria for property owners to bring nuisance actions based on property location and population size.

Removed the requirement for limited liability companies to file affidavits listing natural persons with management control over real property.

Added eligibility for property owners and neighborhood organizations to bring nuisance actions in cities with populations ranging from 71,000 to over 350,000, as well as unincorporated counties.

Introduced a mandatory 60-day notice period before filing nuisance lawsuits and established a prima facie case standard that does not require proof of actual damage.

Authorized courts to award attorneys' fees and expenses to prevailing plaintiffs and imposed a $2,000 civil fine per violation for non-resident property owners.

Mandated that properties with unpaid fines or un-abated nuisances be sold by the taxing jurisdiction if issues are not resolved within one to two years.

Removed all provisions related to the 'Missouri Residential Sale Leaseback Protection Act', including definitions of buyers and sellers, mandatory disclosure forms, waiting periods before closing, and penalties for violations.

Added a requirement for LLCs owning or leasing property in certain cities and counties to file an affidavit listing a natural person with management control.

Established new geographic eligibility criteria, requiring LLCs in cities with over 400,000 residents in multiple counties, cities with 116,000-155,000 residents, cities with 71,000-79,000 residents, or counties with over 1 million residents to comply.

Added a mechanism allowing affected persons, counties, or cities to petition the circuit court to force an LLC to file the required affidavit if they fail or refuse to do so.

Removed the 'American Dream Act' which restricted institutional buyers from purchasing homes that had not been listed for sale for 90 days.

Added new definitions for 'Buyer', 'Seller', 'Residential real estate', and 'Sale leaseback' to clarify the transaction type being regulated.

Added a requirement for a clear, conspicuous disclosure statement to be provided to sellers before signing a sale-leaseback agreement.

Established a mandatory 30-day waiting period after signing an agreement before the title can be transferred from seller to buyer.

Created civil penalties of up to $10,000 per violation and allowed sellers to sue for statutory damages and attorneys' fees.

Removed the repeal of fifty-five existing sections covering nuisance laws, property rights, and various housing statutes.

Added a new definition for 'Institutional buyer' to include corporations, private equity firms, and hedge funds that own more than fifty single-family homes for investment.

Added a mandatory ninety-day listing requirement for single-family homes before an institutional buyer can acquire them.

Added exemptions for banks, mortgage lenders, home builders, and entities acquiring properties built specifically as rental communities.

Authorized the Missouri Housing Development Commission to create rules to enforce the new restrictions.

Removed the intent to amend chapters 143, 442, and 443 to add the 'American Dream Tax Deduction' and 'American Dream Act'.

Added the intent to repeal numerous existing sections (including 82.1025, 140.980, and 141.220) and enact fifty-five new sections relating to real estate.

Updated the bill title and header to reflect the 'Perfected' status and the new legislative intent of repeal and re-enactment rather than simple amendment.

Included a new explanation stating that matter in bold-faced brackets is not enacted and is intended to be omitted from the final law.

Deleted Section 442.563, which previously prohibited non-citizens from acquiring single-family residential property.

Removed the definition of 'Taxpayer' as 'any individual who is a resident of this state,' changing it to apply to any individual subject to the state income tax regardless of residency.

Updated the definition of 'Institutional buyer' to explicitly list investment trusts, private equity firms, and hedge funds alongside corporations and partnerships.

Adjusted the bill title and act summary to reflect the removal of the non-citizen ban and the addition of a severability clause.