HB 237
AN ACT relating to the purchase of single-family homes.
In Plain Language
This law would stop large-scale rental home investors from buying more single-family homes in certain counties once they own 50 or more, unless they plan to live in the home themselves. The restriction only applies to homes that have been on the market for less than 90 days, or less than 30 days if the buyer is a small business. Violations would be treated as illegal and the state could take legal action against violators.
Official summary
Create new sections of KRS Chapter 367 to define terms; prohibit persons who own 50 or more single-family rental homes in qualifying counties from purchasing additional single-family homes in qualifying counties except for use by the person as a residence; limit the purchase restriction to single-family homes that have been advertised for sale for less than 90 days or less than 30 days if the purchaser qualifies as a small business; provide that a violation is also a violation of KRS 367.170; provide for joinder of certain parties with joint and several liability in enforcement actions.
Sponsor
—
Cosponsors
None listed
Latest action
to Judiciary (H)
Feb 7, 2025
Official source
Action history
Write to this bill’s sponsor
Draft a constituent message about this bill in your own words -- grounded in the actual summary, not a form letter.
Don’t worry — we’ll help you form the message.
Compose a message