2025 - 2026 LEGISLATURE
LRB-2617/1
KRP:ajk&cdc
April 23, 2025 - Introduced by Representatives Haywood, DeSanto, DeSmidt, Palmeri, Neubauer, Snodgrass, Brown, Joers, Sheehan, Stroud, Hong, Tenorio, Stubbs, Goodwin, Rivera-Wagner, Clancy, Fitzgerald, Bare, Anderson, Moore Omokunde, Behnke, Madison, Sinicki, Mayadev, Emerson, Johnson and Miresse, cosponsored by Senators Keyeski, Pfaff, Larson, Carpenter, Ratcliff, Spreitzer, Dassler-Alfheim, Habush Sinykin, Drake, Hesselbein, Smith, Wirch and L. Johnson. Referred to Committee on Housing and Real Estate.
AB213,1,2
1An Act to create 710.30 of the statutes; relating to: prohibiting hedge funds
2from acquiring single-family homes in this state. Analysis by the Legislative Reference Bureau
This bill prohibits a hedge fund from acquiring a single-family home in this state. The bill provides that an ownership interest in a single-family home acquired or owned by a hedge fund in violation of the bill is forfeited to the state and that the attorney general is responsible for enforcement.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
AB213,13Section 1. 710.30 of the statutes is created to read: AB213,1,74710.30 Prohibition on hedge fund ownership of single-family homes. 5(1) Definition. In this section, “hedge fund” means a corporation, limited liability 6company, partnership, association, trust, or other organization or enterprise to 7which all of the following apply: AB213,2,2
1(a) It manages funds pooled from investors and is a fiduciary with respect to 2the investors. AB213,2,33(b) It has $50,000,000 or more in net value or assets under management. AB213,2,64(c) It is not an organization that is described in section 501 (c) (3) of the 5Internal Revenue Code and that is exempt from federal income tax under section 6501 (a) of the Internal Revenue Code. AB213,2,87(2) Prohibition. A hedge fund may not acquire or own, in whole or in part, a 8single-family home in this state. AB213,2,119(3) Forfeiture; enforcement. An ownership interest in a single-family 10home that is acquired or owned in violation of this section is forfeited to the state. 11The attorney general shall enforce this section. AB213,2,1712(4) Applicability. This section applies to an ownership interest in a single-13family home acquired by a hedge fund on or after the first day of the first month 14beginning after the effective date of this subsection .... [LRB inserts date]. No 15ownership interest acquired by the hedge fund before the first day of the first month 16beginning after the effective date of this subsection .... [LRB inserts date], is subject 17to forfeiture under this section.
