HF 745 (LSB 2086YH (2) 91)

HOUSE FILE 745

BY  TUREK

A BILL FOR

An Act concerning city regulation of single-family residential property.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 414.1, Code 2025, is amended by adding the following new subsection:
   NEW SUBSECTION.  3.  a.  For the purpose of promoting the general welfare of the community, a city is hereby empowered to regulate the use of a building for single-family residential purposes by prohibiting the purchase of single-family residential property by corporations or other business entities utilizing private equity funds, hedge funds, or real estate funds for the period beginning July 1, 2025, and ending June 30, 2030.
   b.  This subsection is repealed July 1, 2030.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill allows cities to prohibit the purchase of single-family residential property by corporations or other business entities utilizing private equity funds, hedge funds, or real estate funds for the period beginning July 1, 2025, and ending June 30, 2030.