AZ HB2706

Corporations and limited liability companies (or their affiliates) owning 10 or more single-family residences, condominiums, or townhomes in Arizona must register with the Corporation Commission's Securities Division before purchasing additional properties.

Corporations are prohibited from purchasing single-family residences, condominiums, or townhomes unless the property has been on the market for more than 90 days or has had a price change.

Violations of registration requirements can result in civil penalties up to $20,000 per violation, with collected penalties deposited into the state's housing trust fund.

Exemptions apply to governmental entities, 501(c)(3) nonprofits, land trusts, group homes, and employers renting to employees.

The Corporation Commission must submit an annual report beginning January 31, 2027, identifying corporate purchases and sales of single-family residences by zip code.