Plain English Breakdown
The plain English breakdown is still being put together. The official documents below are already here.
SF4102 • 2026
Private equity company ownership of single-family homes prohibition
Private equity company ownership of single-family homes prohibition
Passed Legislature
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Bill History
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2026-03-12
House
Author added Champion
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2026-03-04
House
Introduction and first reading
Official Summary Text
Private equity company ownership of single-family homes prohibition
Current Bill Text
Read the full stored bill text
A bill for an act relating to housing; prohibiting private equity company ownership of single-family homes; providing attorney general enforcement; proposing coding for new law in Minnesota Statutes, chapter 500. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. new text begin [500.50] SINGLE-FAMILY HOMES; PRIVATE EQUITY OWNERSHIP PROHIBITED. new text end new text begin Subdivision 1. new text end new text begin Definitions. new text end new text begin (a) For purposes of this section, the following terms have the meanings given. new text end new text begin (b) "Private equity company" means an investor or group of investors who primarily engage in the raising or returning of capital and who invest, develop, or dispose of specified assets. A private equity company includes publicly or nonpublicly traded entities, real estate investment trusts, and any investment firm that buys and manages private companies to make a profit. A private equity company does not include any of the following: new text end new text begin (1) a local, state, or federal unit of government or agency; new text end new text begin (2) a land trust as defined in section 462A.31; new text end new text begin (3) a nonprofit organized under chapter 317A that is creating, rehabilitating, or providing affordable housing to low- and moderate-income renters or home buyers; new text end new text begin (4) a corporation primarily engaged in housing development through the construction and rehabilitation of single-family homes; or new text end new text begin (5) a mortgage note holder that owns the single-family homes through foreclosure. new text end new text begin (c) "Homestead" means a property classified as class 1a under section 273.13, subdivision 22. new text end new text begin (d) "Real estate investment trust" has the meaning given in United States Code, title 26, section 856. new text end new text begin (e) "Single-family home" means a residential property consisting of one to four dwelling units. new text end new text begin Subd. 2. new text end new text begin Single-family homes; private equity ownership prohibition. new text end new text begin A private equity company is prohibited from having a direct or indirect ownership interest in a single-family home. This subdivision does not prohibit a natural person from acquiring an ownership interest in a home that is classified as homestead property for tax purposes. new text end new text begin Subd. 3. new text end new text begin Enforcement. new text end new text begin The attorney general may enforce this section pursuant to section 8.31. new text end new text begin EFFECTIVE DATE. new text end new text begin This section is effective August 1, 2026, and applies to interests in real property acquired on or after that date. new text end