CORP OWNERSHIP PROPERTY
- Introduced Jan 12, 2026
- In committee Jan 14, 2026
- Passed the House Next
- Passed the Senate
- To the governor
- Became law
What it does
The legislature's own summary of the bill, or its official long title.
Creates the Corporate Ownership of Residential Property Act. Provides that, beginning January 1, 2027, a company to which the Act applies is prohibited from owning more than 500 residential properties in Illinois, including residential property held by affiliated entities or persons. Requires each company owning more than 500 residential properties to register annually with the Department of Financial and…
Read the full title (126 words)
Creates the Corporate Ownership of Residential Property Act. Provides that, beginning January 1, 2027, a company to which the Act applies is prohibited from owning more than 500 residential properties in Illinois, including residential property held by affiliated entities or persons. Requires each company owning more than 500 residential properties to register annually with the Department of Financial and Professional Regulation. Requires each company owning more than 200 residential properties but less than 500 residential properties to provide to the Department a list of all residential properties owned, a disclosure of all affiliated entities and beneficial owners, and an affirmation of compliance with the Act. Requires the Department to enforce the Act. Grants the Department rulemaking powers. Limits home rule powers. Makes other changes. Effective immediately.
Every action
3 steps, oldest first, as the legislature records them.
- HouseFiled with the Clerk by Rep. Jed Davis
- HouseFirst Reading
- CommitteeReferred to Rules Committee · House Rules
Roll calls
No recorded votes on this bill yet.
Sponsors
The member who introduced it.
-
Jed DavisR Primary sponsor · District 75
From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.