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TX HB2968
Bill
Status
2/18/2025
Primary Sponsor
James Talarico
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AI Summary
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Requires corporate owners (corporations, LLCs, REITs, partnerships, etc.) of multiple single-family rental homes in Texas to register annually with the Secretary of State, providing business name, address, entity type, state of incorporation, number of homes owned, and officer contact information
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Imposes a $500 per day civil penalty for corporate owners who fail to register, with the Attorney General authorized to bring enforcement actions
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Mandates the Secretary of State establish a publicly searchable online registry of all registered corporate owners and their submitted information
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Requires county clerks to refuse recording of property deeds to corporate owners unless the buyer provides a valid registration certificate, a sworn affidavit, and includes officer information on the deed stating the property is not the grantee's primary residence
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Directs the Texas Real Estate Research Center at Texas A&M to submit annual reports by June 1 analyzing corporate ownership trends, including purchases by county, foreclosure acquisitions, rental usage, and impacts on housing costs and availability, with the first report due June 1, 2026
Legislative Description
Relating to single-family homes held by corporate owners for rental purposes; requiring information by and registration of certain corporate owners; authorizing a fee and civil penalty.
Property Interests
Last Action
Referred to Trade, Workforce & Economic Development
3/20/2025