SB 1100 - This act prohibits corporations, as that term is defined in the act, from acquiring, directly or indirectly, any residential real estate in this state. Provisions are included allowing the Attorney General to enforce this act in any circuit court with proper jurisdiction. Exemptions are included to state that banks and other financial institutions are not precluded from offering or issuing mortgages for the acquisition of residential real estate. This act is identical to SB 665 (2025) and similar to SB 683 (2025).
SCOTT SVAGERA