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NC S432
Bill
Status
Introduced
3/24/2025
Primary Sponsor
Lisa Grafstein
Click for details
AI Summary
- Prohibits business entities that already own 100 or more single-family rental homes in qualifying counties from purchasing additional single-family homes for non-residential use
- Applies only to qualifying counties with populations greater than 150,000 based on the most recent decennial census
- Authorizes the Attorney General to conduct civil investigations, bring civil actions, and enter assurances of discontinuance for violations
- Allows aggrieved individuals or county commissioners to sue violators in superior court, with civil penalties up to $100 per day per home and exemplary damages of $50,000 or three times total damages
- Effective upon becoming law and applies to real estate purchases made on or after the effective date
Legislative Description
Home Ownership Market Manipulation
Public
Last Action
Ref To Com On Rules and Operations of the Senate
3/25/2025
Committee Referrals
Rules and Operations of the Senate3/25/2025
Full Bill Text
No bill text available