HB287 - Relating to an annual study by the Texas A&M University Texas Real Estate Research Center of the purchase and sale of single-family homes by certain institutional buyers.

  89R725 SHH-F     By: Harris Davila H.B. No. 287       A BILL TO BE ENTITLED   AN ACT   relating to an annual study by the Texas A&M University Texas Real   Estate Research Center of the purchase and sale of single-family   homes by certain institutional buyers.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter C, Chapter 86, Education Code, is   amended by adding Section 86.531 to read as follows:           Sec.   86.531.     ANNUAL STUDY AND REPORT ON SINGLE-FAMILY HOME   PURCHASES AND SALES BY CERTAIN INSTITUTIONAL BUYERS.   (a)     In this   section, "institutional buyer" means a corporation, limited or   general partnership, limited liability company, business trust,   investment asset manager, real estate investment trust, joint   venture, joint stock company, or bank that purchases or acquires   for consideration 10 or more single-family homes in this state in a   calendar year.           (b)     Using existing available data and deed records, the   center shall annually compile information related to institutional   buyers' purchases and sales of single-family homes in this state   for the calendar year.   The information must include:                   (1)     the number of single-family homes purchased by   each institutional buyer in the calendar year;                 (2)     of the single-family homes described by   Subdivision (1), the number acquired through foreclosure;                 (3)     of the single-family homes described by   Subdivision (1), the number sold by each institutional buyer during   the same year;                 (4)     of the single-family homes described by   Subdivision (1), the number used as rental properties during the   same year;                 (5)     the city and county where each single-family home   described by Subdivision (1) is located and the number of homes   purchased in each city or county; and                   (6)     the appraised value of each single-family home   described by Subdivision (1).           (c)     In addition to the information required by Subsection   (b), the center may compile additional information:                 (1)  at the recommendation of the legislature; or                 (2)     that the center determines is relevant based on   market trends.           (d)     Not later than June 1 of each year, the center shall   submit a report to the lieutenant governor, the speaker of the house   of representatives, and each member of the legislature. The report   must contain:                   (1)     a summary of the information compiled under   Subsection (b) for the preceding calendar year;                 (2)     an assessment of any trends or patterns relating   to the relative number of purchases by institutional buyers,   including whether the institutional buyers fall into any readily   observable groups based on number of purchases or other appropriate   criteria; and                 (3)  an analysis of:                       (A)     the impact of institutional buyers on the   cost of housing; and                       (B)     the advantages, if any, that institutional   buyers have over individual buyers in the real estate market.           (e)     After completing the initial report under this section,   the center may compile information from any calendar years   preceding 2025 to create and submit reports for those years that   include the information listed in Subsections (b) and (d).            SECTION 2.  As soon as practicable after the effective date   of this Act, the Texas A&M University Texas Real Estate Research   Center shall take any actions necessary to prepare to implement   Section 86.531, Education Code, as added by this Act,  and submit   the initial report required by Section 86.531(d), Education Code,   as added by this Act, not later than June 1, 2026.          SECTION 3.  This Act takes effect September 1, 2025.