VT H0607

Institutional real estate investors must wait 90 days after a single- or two-family residence is listed for sale before purchasing, with the waiting period restarting if the seller changes the asking price

"Institutional real estate investor" is defined as an entity owning 10+ single/two-family residences, managing pooled investor funds as a fiduciary, and having $30 million or more in net value or assets under management

Federal tax deductions for depreciation and interest (under 26 U.S.C. § 163) on covered residential properties are eliminated for institutional investors when calculating Vermont taxable income

Exemptions apply to 501(c)(3) nonprofits, land banks, community land trusts, creditors acquiring property through debt satisfaction, and properties with government funding or used as an owner's principal residence

The 90-day waiting period takes effect July 1, 2026; tax deduction eliminations apply retroactively to taxable years beginning January 1, 2026