Rhode Island H8102 limits property ownership by legal entities to $25 million, requiring divestment over 10 years if exceeded.

Rhode Island H8102 prohibits legal entities from owning real property exceeding $25 million in aggregate value. If an entity's holdings surpass this limit, it must divest a graduated percentage of its holdings annually over ten years. The divestment percentages increase each year, starting at 10% in the first year and culminating at 100% in the tenth year. The bill also mandates that landlords register specific property information with the Department of Health and prohibits eviction actions for nonpayment of rent without proof of registration compliance.

Rhode Island H8102 limits property ownership by legal entities to $25 million, requiring divestment over 10 years if exceeded.

Rhode Island H8102 prohibits legal entities from owning real property exceeding $25 million in aggregate value. If an entity's holdings surpass this limit, it must divest a graduated percentage of its holdings annually over ten years. The divestment percentages increase each year, starting at 10% in the first year and culminating at 100% in the tenth year. The bill also mandates that landlords register specific property information with the Department of Health and prohibits eviction actions for nonpayment of rent without proof of registration compliance.