UT SB0309

Owners of single-family rental homes must register with the Division of Real Estate by October 1, 2026, or within 30 days of renting, with a $100 monthly penalty for non-compliance

Owners of 25 or more single-family rental homes face an annual excise tax: $2,000 per home for 25-29 homes, escalating to $4,000 per home for 30-49 homes, and $6,000 per home above 49

Creates the Housing Transition Redevelopment Grant Program to provide competitive grants to municipalities seeking to convert institutional investor-owned single-family rentals into owner-occupied attainable homes

Establishes a "qualified transition zone" as areas where institutional investors own at least 25% of single-family homes, with grant recipients required to provide 20% matching funds and create deed-restricted properties

Registration requirement, excise tax, and grant program are scheduled to sunset on July 1, 2032, pending legislative review