Business Organizations - As introduced, requires the comptroller of the treasury to submit a report, on or before December 31, 2026, to the governor, the speaker of the senate, the speaker of the house of representatives, the chair of the state and local government committee of the senate, and the chair of the committee of the house of representatives having jurisdiction over housing containing a summary of certain de-identified information related to real estate investment trusts' purchases and sales of single-family homes in this state in 2025. - Amends TCA Title 4; Title 5; Title 6; Title 7; Title 13; Title 47; Title 48; Title 61; Title 66 and Title 67.

114th Regular Session (2025-2026) Introduced by Tom Leatherwood

Requires Tennessee's comptroller to report de-identified REIT single-family home transaction data from 2025 to inform potential housing policy decisions.

Taken off notice for cal in s/c Finance, Ways, and Means Subcommittee of Finance, Ways, and Means Committee

#businessorganizations

Legislative bill overview

HB 1777 requires Tennessee's comptroller to compile and report de-identified data on real estate investment trusts' (REITs) purchases and sales of single-family homes during 2025, with the report due by December 31, 2026. The bill amends multiple sections of Tennessee code across business, property, and housing law, though the core requirement centers on this data collection and reporting mandate.

Why is this important

The rise of institutional investors purchasing single-family homes has become a national policy concern, with critics arguing it reduces affordable housing availability and increases rental costs for families. This bill would provide lawmakers and housing policymakers with concrete data about REIT activity in Tennessee's residential market, enabling evidence-based policy decisions about potential regulation of corporate home ownership.

Potential points of contention

Scope of data collection: The bill's broad amendments across 10 Tennessee code titles suggest more extensive regulatory changes than the summary indicates; the full text may impose new reporting requirements or restrictions on REIT activities beyond the comptroller's report

Timing and usefulness: Collecting only 2025 data with a 2026 report deadline means information is already 6-12 months old when legislators receive it, potentially limiting its relevance for immediate policy action

Privacy vs. transparency trade-off: While de-identification protects individual transactions, it may obscure important details about specific markets, neighborhoods, or corporate entities that policymakers need for targeted regulation