AZ SB1442

Corporations and limited liability companies (LLCs) 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.

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

Violations of registration requirements may result in civil penalties up to $20,000 per violation after a formal hearing, with penalties deposited into the state Housing Trust Fund.

The Commission must maintain a public registry of registered corporations and LLCs on its website and submit annual reports to state leadership beginning January 31, 2027, detailing property purchases and sales by zip code.