House File 2207 - Introduced HOUSE FILE 2207 BY BAGNIEWSKI A BILL FOR An Act relating to the purchase of single-family residences by 1 certain business entities. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 5764YH (2) 91 lh/jh

H.F. 2207 Section 1. Section 558.1B, Code 2026, is amended by adding 1 the following new subsections: 2 NEW SUBSECTION . 4. “Private equity entity” means a 3 corporation, limited liability company, partnership, trust, 4 real estate investment trust, investment fund, or other legal 5 entity, other than an individual, that pools capital from one 6 or more investors for the purpose of acquiring residential real 7 property for investment, rental, or resale. 8 NEW SUBSECTION . 5. “Single-family residence” means a 9 residential dwelling designed for occupancy by one household 10 and located on property zoned for single-family residential 11 use, including a detached dwelling or townhouse, but excluding 12 duplexes, multifamily dwellings, and condominiums. 13 Sec. 2. Section 558.41, Code 2026, is amended by adding the 14 following new subsection: 15 NEW SUBSECTION . 5. Private equity entity acquisition 16 restrictions. A county recorder shall not record a deed 17 conveying a single-family residence to a private equity entity 18 unless the deed is accompanied by a sworn affidavit executed by 19 the grantee and grantor affirming that the acquisition complies 20 with section 558.73. 21 Sec. 3. NEW SECTION . 558.73 Purchase restrictions on 22 single-family residences. 23 1. a. A private equity entity shall not purchase, contract 24 to purchase, or otherwise acquire a single-family residence 25 during the first seventy-five days that the residence is listed 26 for sale on the open market. 27 b. The seventy-five-day period begins on the date the 28 single-family residence is first offered for sale through a 29 multiple listing service, licensed real estate broker, or 30 publicly accessible listing platform. 31 c. A private equity entity shall not evade the requirements 32 of this section through the use of subsidiaries, affiliates, 33 or agents. 34 2. A private equity entity acquiring a single-family 35 -1- LSB 5764YH (2) 91 lh/jh 1/ 2

H.F. 2207 residence shall submit a sworn affidavit stating either of the 1 following: 2 a. The acquisition occurs after the expiration of the 3 seventy-five-day period required under subsection 1. 4 b. The acquisition is otherwise exempt under state or 5 federal law. 6 EXPLANATION 7 The inclusion of this explanation does not constitute agreement with 8 the explanation’s substance by the members of the general assembly. 9 This bill relates to the purchase of single-family homes by 10 certain business entities. 11 The bill defines “private equity entity” and “single-family 12 residence”. The bill prohibits a private equity entity from 13 purchasing, contracting to purchase, or otherwise acquiring 14 a single-family residence during the first 75 days that the 15 residence is listed for sale on the open market. The 75-day 16 period begins on the date the residence is first listed through 17 a multiple listing service, licensed real estate broker, or 18 publicly accessible listing platform. The bill prohibits 19 evasion of this restriction through subsidiaries, affiliates, 20 or agents. 21 The bill also requires a private equity entity to submit 22 a sworn affidavit to the county recorder affirming that 23 the acquisition complies with the 75-day restriction or is 24 otherwise exempt under law. The county recorder is prohibited 25 from recording a deed conveying a single-family residence to 26 a private equity entity unless the affidavit accompanies the 27 deed. 28 -2- LSB 5764YH (2) 91 lh/jh 2/ 2