Precludes a legal entity from owning property whose value is over $25,000,000. If the property value exceeds $25,000,000, then the entity must divest a graduated yearly amount over the next 10 years, until value is less than $25,000,000.
Introduced on 3/4/26
Summary
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From the Legislature
PROPERTY -- CAPACITY TO HOLD REAL ESTATE - Precludes a legal entity from owning property whose value is over $25,000,000. If the property value exceeds $25,000,000, then the entity must divest a graduated yearly amount over the next 10 years, until value is less than $25,000,000.
Sponsors
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10
0
Democratic CaucusRepublican Caucus
Calendar
Apr 16
12:00 AM
Senate Housing and Municipal Government Hearing