TN SB0242

Prohibits business entities that already own 100 or more single-family rental homes from purchasing additional single-family homes in Tennessee counties with populations over 150,000

Applies to corporations, LLCs, partnerships, and other business entities, including their affiliates; does not apply to governmental entities or individuals purchasing homes for personal residence

Authorizes the Attorney General and aggrieved individuals to bring civil actions against violators

Penalties include up to $100 per day per home acquired in violation, compensatory damages, attorneys' fees, and punitive damages up to $50,000 or three times total damages (whichever is greater)

Takes effect immediately upon becoming law and applies to contracts entered into on or after the effective date