CORP OWNERSHIP PROPERTY
Sponsored By: Jed Davis (Republican)
In Committee
Summary
Creates the Corporate Ownership of Residential Property Act. Provides that, beginning January 1, 2027, a company to which the Act applies is prohibited from owning more than 500 residential properties in Illinois, including residential property held by affiliated entities or persons. Requires each company owning more than 500 residential properties to register annually with the Department of Financial and Professional Regulation. Requires each company owning more than 200 residential properties but less than 500 residential properties to provide to the Department a list of all residential properties owned, a disclosure of all affiliated entities and beneficial owners, and an affirmation of compliance with the Act. Requires the Department to enforce the Act. Grants the Department rulemaking powers. Limits home rule powers. Makes other changes. Effective immediately.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Jed Davis
Republican • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Referred to Rules Committee
1/14/2026HouseFirst Reading
1/14/2026HouseFiled with the Clerk by Rep. Jed Davis
1/12/2026House
Bill Text
Introduced
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