HB 4128

Prohibits covered entities from purchasing, acquiring or offering to purchase or acquire a single-family residence unless the residence has been listed for sale to the general public for at least 90 days.

Bill Text

• A-Engrossed
• B-Engrossed
• Enrolled
• House Amendments to Introduced
• Introduced
• Senate Amendments to A-Engrossed

Requires covered entities to wait 90 days after a single-family residence is listed before purchasing it and mandates disclosure forms to the state.

Original Bill Text

Sponsors#

Chief Sponsors: Ben Bowman, Lew Frederick, Dacia Grayber, Lamar Wise, Courtney Neron Misslin

Co-Sponsors: Tom Andersen, Willy Chotzen, Mark Gamba, David Gomberg, Ken Helm, Shannon Isadore, Cyrus Javadi, Lesly Muñoz, Nancy Nathanson, Rob Nosse, Hai Pham, Sue Rieke Smith, Deb Patterson, Khanh Pham, Lisa Reynolds, Nathan Sosa

Overview#

Digest: Imposes a waiting period of 90 days on some entities to buy a house made for one family. Allows the Department of Justice to enforce the law. (Flesch Readability Score: 61.5). Prohibits covered entities from purchasing, acquiring or offering to purchase or acquire a single-family residence unless the residence has been listed for sale to the general public for at least 90 days. Provides that the 90-day waiting period restarts each time the sale price is modified. Requires a covered entity or its agent, upon making an offer to purchase or acquire a single-family residence, to submit a completed and notarized disclosure form to the seller or seller’s agent. Requires the covered entity to submit the same form to the Department of Justice within three days of submitting the form to the seller or seller’s agent. Authorizes the Attorney General to bring a civil action in circuit court against a covered entity for declaratory relief, to restrain a threatened or actual violation of the 90-day waiting period or disclosure form requirements or to otherwise compel compliance with those requirements. Authorizes the Attorney General to impose a civil penalty against a covered entity upon finding a violation.

Public Testimony

Legislative History