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GA HB305

Bill

Status

Introduced

2/5/2025

Primary Sponsor

Phil Olaleye

Click for details

Origin

House of Representatives

2025-2026 Regular Session

AI Summary

  • Prohibits "prohibited businesses" from acquiring any interest in single-family dwellings in Georgia, effective July 1, 2025

  • Defines "prohibited business" as partnerships, corporations, or real estate investment trusts that manage pooled investor funds and either hold $6,250,000 or more in total assets or own interests in at least 25 single-family dwellings in a single county

  • Exempts 501(c)(3) nonprofit organizations and homebuilders engaged solely in construction or rehabilitation of single-family dwellings

  • Single-family dwelling definition includes manufactured home communities and mobile home parks, but excludes condominiums, townhouses, multifamily communities, and properties acquired through foreclosure

  • Applies only to conveyances made on or after July 1, 2025, not retroactively to existing ownership

Legislative Description

Protect the Dream Act; enact

Last Action

House Second Readers

2/10/2025

Committee Referrals

Governmental Affairs2/6/2025

Full Bill Text

No bill text available