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SB 1209

FOID&CONCEALED CARRY-AMMO

104th Regular Session Introduced by Neil Anderson and 3 co-sponsors

SB 1209 restricts corporate ownership of Arizona single-family homes by capping purchases, requiring entity registration, and directing fees to the housing trust fund.

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Bill Summary · SB 1209

Summary — SB 1209 (Introduced Feb 10, 2025)

Status snapshot
- Introduced: February 10, 2025 (Senate). Primary sponsor: Sen. Analise Ortiz; multiple cosponsors listed. Co‑sponsor added: Sen. Chris Balkema (May 16, 2025).
- Committee activity: Referred to committees and subject to public hearings; reported favorably without amendment on May 22, 2025. (See full procedural history in bill file.)
- Companion bill: HB 468.

Overview / primary purpose
SB 1209 is a package of statutory changes (Arizona Revised Statutes) that (1) limits and regulates purchases of single‑family residences by corporations, limited liability companies (LLCs), and their affiliates; (2) requires registration of such entities before they may purchase single‑family homes in the state and adds recording requirements for county recorders; and (3) amends the state housing trust fund to accept monies deposited under the new registration provisions. The stated intent is to restrict large corporate accumulation of single‑family housing and direct registration/fee revenue toward housing programs.

Key provisions
- New county‑recorder deed requirements (33‑401.01)
- A deed conveying a single‑family residence to a corporation/LLC (or affiliate) may not be recorded unless:
- The entity is registered under the new registration statute (44‑4003); and
- A copy of the entity’s certificate of registration issued by the Corporation Commission accompanies the deed and the names match.
- The deed must state that the property is not the owner’s primary residence.
- Exception: does not apply if the entity owns fewer than 10 single‑family residences in Arizona.

  • New Chapter 14 (Title 44) — limits and registration

    • Purchase limits (44‑4002):
    • Generally, an entity (corp/LLC/affiliate) may not purchase more than 5% of a county’s total single‑family residences.
    • In counties with population ≥400,000, the cap is 100 units per calendar year (per entity).
    • Sales/transfers within a corporation/LLC are exempt.
    • The Corporation Commission must adopt rules to implement the limits.
    • Mandatory registration (44‑4003):
    • Corporations/LLCs/affiliates must register with the Securities Division of the Corporation Commission before purchasing single‑family residences. Registration must include the business name used.
    • The Commission may set a registration fee.
    • (Text is truncated in the provided file; additional enforcement, penalties, or reporting provisions may appear in full bill.)

  • Housing trust fund amendment (41‑3955)

    • The housing trust fund’s composition is amended to include monies deposited under the new registration statute (section 44‑4003). Existing purposes and reporting requirements for the trust fund remain, including priority for low‑income housing projects and use for rural housing.

Who would be affected
- Corporations, LLCs, and affiliates that buy single‑family residences in Arizona (particularly institutional investors, corporate landlords, and private equity real‑estate buyers).
- County recorders: new deed‑recording compliance duties.
- Corporation Commission / Securities Division: new registration and rulemaking responsibilities; authority to set registration fees.
- Housing programs: potential new revenue source for the state housing trust fund from registration/fee deposits.

Procedural/timeline notes
- Introduced February 10, 2025. Underwent committee hearings and was reported favorably without amendment (May 22, 2025). Additional rulemaking and implementation steps would follow enactment, including Commission rule adoption and county recorder procedures.

Important caveat
- The uploaded document also contains an unrelated Illinois bill (also labeled SB1209) concerning the Firearm Owners Identification Card Act. That Illinois text is not part of the Arizona single‑family residence legislation summarized above. Reviewers should consult the official Arizona legislative website or the enacted text to confirm final language and any sections truncated in the provided excerpt.

Compiled from official sources — confirm details with the bill’s official record.

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