Housing - As introduced, enacts the "Homes not Hedge Funds Act"; prohibits certain business entities from purchasing more than 100 single-family homes in certain counties in this state for purposes of renting the purchased properties; establishes a state and private cause of action and establishes damages for violations. - Amends TCA Title 13; Title 47 and Title 66.

HB 298, the "Homes not Hedge Funds Act," prohibits business entities from purchasing more than 100 single-family homes in Tennessee counties with populations exceeding 150,000 (based on 2020 census data) for rental purposes. It defines "single-family home" as detached, semi-detached, or townhomes with no shared utilities, and applies to corporations, LLCs, or investment groups (excluding government entities). The bill allows the state attorney general or affected individuals to sue violators for up to $100 per day per home, plus damages, attorney fees, or punitive penalties. It takes effect for new rental contracts signed after enactment, aiming to limit large-scale rental acquisitions in densely populated areas.