Iowa HF2386 allows cities to require first-time purchasers of new single-family homes to occupy them for one year, with fines for non-compliance.

Iowa HF2386 introduces a provision allowing cities to mandate that the first purchaser of a single-family residential home in a new housing development must physically occupy the home for one year after purchase. The city may impose a fine for non-compliance, not exceeding one-fourth of the home's fair market value. The bill also allows for exemptions in cases of good-faith sales or transfers within the one-year period.

Iowa HF2386 allows cities to require first-time purchasers of new single-family homes to occupy them for one year, with fines for non-compliance.

Iowa HF2386 introduces a provision allowing cities to mandate that the first purchaser of a single-family residential home in a new housing development must physically occupy the home for one year after purchase. The city may impose a fine for non-compliance, not exceeding one-fourth of the home's fair market value. The bill also allows for exemptions in cases of good-faith sales or transfers within the one-year period.