All Roll Calls
Yes: 14 • No: 0
VirginiaSB11402025 Regular SessionSenate
Single family homes; prohibited acquisition, civil penalty.
Sponsored By: Glen H. Sturtevant, Jr. (Republican)
Failed
Summary
Prohibited acquisition of single family homes; affidavit; civil penalty. Restricts any partnership, corporation, or real estate investment trust that manages funds pooled from investors; is a fiduciary to such investors; has net value or assets under management on any day during a taxable year; and holds an interest in more than fifty single-family homes from acquiring any interest in any other single-family home, as defined in the bill to include manufactured home parks and single family-residential duplexes, on or after July 1, 2025. The bill also requires an offering purchaser of a manufactured home park to provide a notarized affidavit certifying that the purchaser is not prohibited from acquiring such an interest. Any false statements on such affidavit shall be subject to a civil penalty of up to $10,000 per occurrence for deposit into the Revolving Loan Fund for the Purchase of Manufactured Home Parks pursuant to the appropriation act.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Glen H. Sturtevant, Jr.
Republican • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 1/29/2025
Incorporated by General Laws and Technology (SB1424-VanValkenburg)
Yes: 14 • No: 0
Actions Timeline
Incorporated by General Laws and Technology (SB1424-VanValkenburg) (14-Y 0-N)
1/29/2025SenateFiscal Impact Statement from Department of Planning and Budget (SB1140)
1/27/2025SenateReferred to Committee on General Laws and Technology
1/7/2025SenatePrefiled and ordered printed; Offered 01-08-2025 25103951D
1/7/2025Senate
Bill Text
Introduced
1/7/2025
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