HB1162: HB1162 Corporations; require corporations and limited liability companies and their subsidiaries to provide certain information to the Secretary of State if they own a certain number of multifamily residences

Currently, Georgia corporations and limited liability companies (LLCs) file annual reports with the Secretary of State but are not required to disclose which multifamily properties they own. This bill would add a new disclosure requirement for any corporation, LLC, or subsidiary that has an interest in three or more multifamily residences, defined as properties with a building containing four or more separate housing units. Those entities would have to submit a list of each qualifying property's address as part of their annual filing with the Secretary of State. The Secretary of State would then publish that information on the Georgia Corporations Division website alongside the company's other business information. If a subsidiary owns the properties, the information would also be published with the parent or controlling corporation's listing. The changes would take effect July 1, 2026, and apply to all annual filings made on or after that date.

• Requires corporations with an interest in three or more multifamily residences (buildings with four or more housing units) to list those properties' addresses in their annual filing.
• Applies the same reporting requirement to limited liability companies (LLCs) that own three or more multifamily residences.
• Extends the requirement to subsidiaries of corporations and LLCs, not just the parent companies themselves.
• Directs the Secretary of State to publish the reported property addresses on the Georgia Corporations Division website with the company's business listing.
• Requires that when a subsidiary owns the properties, the information is also published under the parent or controlling corporation's listing.
• Sets the effective date as July 1, 2026, applying to annual filings made on or after that date.

Corporations and limited liability companies registered in Georgia that own three or more multifamily residential properties, along with their subsidiaries and parent companies. It also affects the Secretary of State's office, which must collect and publish the new information, and indirectly affects tenants and the public who could view ownership records online.

Renters, researchers, and local officials would gain access to public records showing which corporations and LLCs own larger multifamily properties in Georgia, information not currently required to be disclosed. Affected companies would face new annual paperwork listing property addresses as part of their state filings.

• New Code Section 14-2-1623 requires business corporations and their subsidiaries with an interest in three or more multifamily residences to submit a list of those properties' addresses with their annual filing.
• New Code Section 14-11-1103.2 imposes the identical requirement on limited liability companies and their subsidiaries.
• Both sections define 'multifamily residence' as a property with a structure containing four or more individual dwelling units meant for separate family occupancy.
• Both sections define 'subsidiary' to include any entity in which the parent corporation or LLC holds a controlling interest.
• The Secretary of State must publish the disclosed addresses on the Georgia Corporations Division website alongside the company's business information.
• If a subsidiary owns the qualifying properties, the addresses must also be published under the parent or controlling corporation's listing.
• Section 3 sets the effective date as July 1, 2026, applying to all annual filings made on or after that date.

1. 2026-02-04House Second Readers (House)
2. 2026-02-03House First Readers (House)
3. 2026-02-02House Hopper (House)

• El-Mahdi Holly (D, HD-116)Primary sponsor
• Mary Ann Santos (D, HD-117)
• Gabriel Sanchez (D, HD-042)
• Karen Lupton (D, HD-083)
• Yasmin Neal (D, HD-079)

• corporate transparency
• housing ownership disclosure
• landlord regulation
• Secretary of State filings
• multifamily housing