HB1115: HB1115 End Home Poaching Act; enact

26 LC 59 0276 House Bill 1115 By: Representatives McCollum of the 30 th, Burchett of the 176 th, Fleming of the 114 th, Stephens of the 164th, and Efstration of the 104th A BILL TO BE ENTITLED AN ACT To amend Chapter 3 of Title 44 of the Official Code of Georgia Annotated, relating to1 regulation of specialized land transactions, so as to prohibit institutional investors and other2 enterprises from obtaining, owning, or possessing an interest i n more than 2,0003 single-family residences; to provide a private cause of action against a residential home4 poacher that obtains, owns, or possesses an interest in more th an 2,000 single-family5 residences; to provide an effective date; to provide a short title; to provide for related matters;6 to repeal conflicting laws; and for other purposes.7 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:8 SECTION 1.9 This Act shall be known and may be cited as the "End Home Poaching Act."10 SECTION 2.11 Chapter 3 of Title 44 of the Official Code of Georgia Annotated , relating to regulation of12 specialized land transactions, is amended by adding a new article to read as follows:13 H. B. 1115 - 1 - 26 LC 59 0276 "ARTICLE 814 44-3-260.15 As used in this article, the term:16 (1) 'Affiliate' means any entity that directly or indirectly owns or controls, is owned or17 controlled by, or is under any other common ownership or control with a residential home18 poacher.19 (2) 'Claimant' means an aggrieved person who seeks recovery of damages under this20 article; provided, however, that such term shall not include a government entity or any21 officer or employee of a government entity acting in his or her official capacity.22 (3) 'Government entity' means any office, agency, authority, department, commission,23 board, body, division, instrumentality, or institution of the e xecutive, legislative, or24 judicial branch of the state government or of any political subdivision within this state.25 (4) 'Residential home poacher' means any institutional investor, corporation, association,26 partnership, limited liability company, limited partnership, trust, issuer, or other private27 legal entity organized under the laws of this state, the United States, the District of28 Columbia, or any other state, territory, or dependency of the United States or under the29 laws of a foreign country engaged in obtaining, owning, or poss essing, directly or30 indirectly, including, but not limited to, through one or more affiliates or shareholders,31 any interest in single-family residences.32 (5) 'Single-family residence' means a parcel of real property that has upon it a detached33 residential structure that contains between one and three individual dwelling units, each34 of which is designed for the exclusive use and occupation by one family, or townhouse.35 (6) 'Townhouse' means an individual residential dwelling unit within a larger structure36 that contains two or more attached residential dwelling units constructed in a row where37 each residential dwelling unit is designed exclusively for use and occupation by one38 H. B. 1115 - 2 - 26 LC 59 0276 family, is located on an individual lot or parcel, and shares at least one common wall with39 an adjacent unit.40 44-3-261.41 (a) For taxable years beginning on or after January 1, 2026, any residential home poacher42 obtaining, owning, or possessing, directly or indirectly, inclu ding, but not limited to,43 through one or more affiliates or shareholders of such resident ial home poacher, any44 interest in more than 2,000 single-family residences shall submit, between December 1 and45 December 31 of each taxable year, a report under penalty of per jury to the state auditor46 indicating the total number of single-family residences in which it possesses an interest as47 of the date of submission.48 (b) On and after January 1, 2027, it shall be unlawful for any residential home poacher to49 obtain, own, or possess, directly or indirectly, including, but not limited to, through one or50 more affiliates or shareholders of such residential home poacher, an interest in more than51 2,000 single-family residences. Any claimant may bring a civil action in any court of52 competent jurisdiction against a residential home poacher that violates this subsection to53 recover the costs incurred by the claimant in bringing such act ion, including reasonable54 attorney's fees, and the greater of actual damages caused by su ch violation or statutory55 damages in the amount of $15,000 for each violation. For purposes of this subsection, each56 single-family residence in which a residential home poacher obtains, owns, or possesses57 an interest in violation of this subsection shall constitute a separate violation.58 (c) An action pursuant to subsection (b) of this Code section shall be brought within four59 years from the last day a residential home poacher came to own or possess an interest in60 one or more single-family residences in violation of subsection (b) of this Code section. 61 Such action may be brought in a representative capacity and may be the subject of a class62 action under Code Section 9-11-23.63 H. B. 1115 - 3 - 26 LC 59 0276 (d) Notwithstanding any provision of law to the contrary, no g overnment entity or any64 officer or employee of a government entity acting in his or her official capacity, including,65 without limitation, the Attorney General, any district attorney, or any county attorney, shall66 be entitled to intervene in an action brought pursuant to subsection (b) of this Code section;67 provided, however, that nothing in this subsection shall prohib it the filing of an amicus68 curiae brief in such action.69 44-3-262.70 It shall be an affirmative defense to an award of monetary reli ef in an action brought71 pursuant to subsection (b) of Code Section 44-3-261 if the defe ndant residential home72 poacher in such action can demonstrate that:73 (1) The claimant who brought such action can only recover stat utory damages under74 subsection (b) of Code Section 44-3-261; and75 (2) The defendant residential home poacher no longer owns or possesses an interest in76 the single-family residence that is the subject of such action, and has, during the77 pendency of such action or no more than 30 days prior to the in itiation of such action,78 paid a judgment for the full amount of statutory damages provided under subsection (b)79 of Code Section 44-3-261 that was awarded in a separate action for the same violation80 of subsection (b) of Code Section 44-3-261 giving rise to the current action."81 SECTION 3.82 This Act shall become effective upon its approval by the Governor or upon its becoming law83 without such approval.84 SECTION 4.85 All laws and parts of laws in conflict with this Act are repealed.86 H. 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