Housing (Zoning)

This bill requires corporations and unincorporated associations in Pennsylvania to report the number of single-family or low-density residential properties they own in their annual filings. It establishes a new chapter in state law that restricts certain entities from owning residential real estate and mandates a waiting period for purchases by covered investors. The legislation allows the Department of State to dissolve or cancel the registration of an entity that violates these property ownership rules at least 10 times within a three-year period. Additionally, the bill grants municipalities specific powers to enforce these restrictions and creates a private right of action for individuals to sue entities that violate the new ownership prohibitions.