HB1017: HB1017 Property; prohibit certain business enterprises from purchasing or acquiring an interest in a single-family residential property

Georgia law currently does not limit how many single-family homes a corporation or similar business can buy to rent out. This bill would change that by banning any 'business enterprise' that holds an interest in at least 100 single-family rental homes in the state from purchasing or acquiring more such homes starting January 1, 2027. Nonprofit organizations with 501(c)(3) status are excluded from the definition. Lenders holding mortgages or deeds to secure debt are not affected, and banks that foreclose on such homes have three years to resell them without violating the law. Separately, the bill would require these large corporate landlords to certify their qualifying properties to county tax assessors and would tax that property at 100 percent of fair market value, with penalties (double the tax shortfall, plus interest) 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in November 2026 allowing this kind of separate property tax classification; otherwise those sections are automatically repealed on January 1, 2027.

• Bans any business enterprise owning at least 100 single-family rental homes in Georgia from buying or acquiring more such homes starting January 1, 2027.
• Exempts nonprofit organizations with 501(c)(3) and Georgia tax-exempt status from the definition of business enterprise.
• Excludes mortgages, security deeds, and other liens from counting as a prohibited 'interest,' and gives lenders three years to resell foreclosed homes.
• Requires business enterprises to certify ownership of qualifying rental homes to county tax assessors, triggering a 100 percent fair market value property tax assessment.
• Imposes a penalty equal to twice the tax shortfall, plus interest, for failing to certify ownership as required.
• Makes the tax-assessment sections contingent on voters approving a November 2026 constitutional amendment, with automatic repeal of those sections if it fails.

Large corporate and institutional landlords that own 100 or more single-family rental homes in Georgia, their affiliates, banks and lenders holding mortgages on such properties, county boards of tax assessors, and Georgia voters who will decide a related constitutional amendment in November 2026.

If enacted, large investor landlords would be blocked from buying more single-family homes in Georgia after 2027, potentially affecting competition for starter homes, while those landlords' existing rental homes could face higher property tax bills if voters approve the companion constitutional amendment.

• Section 1 adds a new article to O.C.G.A. Title 44 defining 'business enterprise' as an entity holding interests in at least 100 single-family rental homes in Georgia, excluding qualifying nonprofits.
• Section 1 (O.C.G.A. § 44-3-261) bans such enterprises from purchasing or acquiring an interest in a single-family home on or after January 1, 2027, but exempts liens and gives foreclosing lenders three years to resell.
• Section 3 adds a new subsection to O.C.G.A. § 48-5-7 requiring 'business enterprise property' to be assessed at 100 percent of fair market value.
• Section 4 (new O.C.G.A. § 48-5-7.8) requires certification of ownership to county tax assessors by January 1, 2027, or within 90 days of a later purchase, and sets a penalty of twice the tax shortfall plus interest for noncompliance.
• Section 4 requires business enterprise property to be separately classified on the tax digest and allows owners to apply for release once the property no longer qualifies.
• Section 5 makes the purchase ban effective upon the Governor's signature, but makes the tax assessment sections (3 and 4) effective only if a constitutional amendment passes in November 2026, otherwise those sections repeal automatically on January 1, 2027.

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