HB 1017: Property; prohibit certain business enterprises from purchasing or acquiring an interest in a single-family residential property

This bill targets large business enterprises, defined as corporations, trusts, partnerships, and similar entities that hold an interest in at least 100 single-family homes, townhouses, condos, or manufactured homes in Georgia used mainly as rentals. Nonprofit and tax-exempt organizations are excluded from the definition. Starting January 1, 2027, these business enterprises would be banned from purchasing or otherwise acquiring an interest in a single-family residential property in Georgia, though the ban does not cover mortgages or other liens, and lenders who foreclose get three years to resell the property. Separately, the bill would require these business enterprises to certify ownership of qualifying homes with county tax assessors and would tax that property at 100 percent of fair market value, with penalties for failing to certify. But this tax provision only takes effect if Georgia voters approve a constitutional amendment in November 2026 allowing this kind of separate tax classification; otherwise it is automatically repealed on January 1, 2027. The purchase ban itself takes effect as soon as the Governor signs the bill.

• Bans business enterprises that hold an interest in 100 or more single-family homes in Georgia from buying or acquiring any additional single-family home, starting January 1, 2027.
• Exempts mortgages, security deeds, and other liens from the purchase ban, and gives lenders who foreclose three years to resell the property without violating the law.
• Requires business enterprises that own qualifying rental properties to certify their ownership with the county board of tax assessors, including a copy of the recorded deed.
• Taxes qualifying business enterprise property at 100 percent of fair market value instead of the normal assessment, but only if Georgia voters approve a constitutional amendment in November 2026.
• Imposes a financial penalty, equal to twice the tax difference plus interest, on property owners who fail to certify their ownership as required.
• Automatically repeals the tax assessment and certification provisions on January 1, 2027 if the constitutional amendment does not pass.

Large corporate and institutional landlords that own 100 or more single-family rental homes, townhouses, condos, or manufactured homes in Georgia; county boards of tax assessors, who must process new certifications; lenders holding mortgages on such properties; and, indirectly, renters and home buyers in markets where these companies operate.

If enacted, large investor landlords would be locked out of buying more single-family homes in Georgia after 2027, potentially changing who competes for homes in the market. Whether the added tax burden on their existing holdings actually takes effect depends on a separate statewide vote on a constitutional amendment in November 2026.

• Section 1 adds a new article to Title 44 defining 'business enterprise' as an entity holding an interest in at least 100 Georgia single-family rental properties, excluding 501(c)(3) nonprofits.
• Section 1 (Code Section 44-3-261) bans such business enterprises from acquiring any interest in a single-family residential property on or after January 1, 2027, with exceptions for liens and foreclosure-related interests sold within three years.
• Section 3 adds a new subsection to O.C.G.A. § 48-5-7 taxing qualifying business enterprise property at 100 percent of fair market value.
• Section 4 creates O.C.G.A. § 48-5-7.8, requiring certification of ownership by January 1, 2027 (or within 90 days of purchase after that date), and setting a penalty of twice the underpaid tax difference plus interest for noncompliance.
• Section 4 requires the state revenue commissioner to create uniform certification and release forms, and requires counties to separately classify affected property on the tax digest.
• Section 5 sets the purchase ban effective upon the Governor's signature, but makes the tax provisions in Sections 3 and 4 contingent on voters ratifying a constitutional amendment in November 2026, with automatic repeal of those sections if the amendment fails.

1. 2026-01-29House Second Readers (House)
2. 2026-01-28House First Readers (House)
3. 2026-01-27House Hopper (House)

• Dar'shun Kendrick (D, HD-095)Primary sponsor
• Stacey Evans (D, HD-057)
• Jasmine Clark (D, HD-108)
• Park Cannon (D, HD-058)

• housing affordability
• corporate landlords
• property taxes
• real estate regulation
• single-family homes