HB5485

HB5485 prohibits covered entities from buying single-family homes unless listed for 75 days.

HB5485, known as the Fair Access to Housing Act, amends existing law to establish that, starting January 1, 2027, it will be illegal for covered entities to purchase, acquire, or offer to purchase or acquire any interest in a single-family residence unless the residence has been listed for sale to the general public for at least 75 days. A covered entity is defined as an institutional real estate investor or an entity funded by such an investor, excluding certain tax-exempt organizations, land banks, community land trusts, and creditors acquiring property in debt satisfaction.