Michigan HB6074 prohibits large institutional investors from purchasing single-family homes, except for specific exceptions.
Michigan HB6074 creates a new act prohibiting large institutional investors from purchasing or acquiring single-family homes in the state. A "large institutional investor" is defined as an entity investing in, owning, renting, managing, or holding single-family homes, with investment control over more than 100 such homes. Exceptions include purchases under build-to-rent programs and certain restructurings. Violators face a civil fine of up to $25,000 per home, collected by the county prosecutor or the attorney general and deposited in the general fund.
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