HB2705

Arizona HB2705 limits the number of single-family residences corporations and limited liability companies can purchase in a census tract.

Arizona HB2705 imposes restrictions on the number of single-family residences that corporations, limited liability companies, and their affiliates can purchase within a census tract. Specifically, these entities are limited to purchasing no more than five percent of the total number of single-family residences in any given census tract. The bill also mandates that these entities register with the securities division of the corporation commission before purchasing a single-family residence.