Property: land sales; purchase of residential property by certain businesses; prohibit. Creates new act.
Key claim: Michigan enacted PA 32’26 (HB6074), a new law prohibiting certain businesses from purchasing residential property.
Abstract
(HB6074 · 103rd Legislature) Property: land sales; purchase of residential property by certain businesses; prohibit. Creates new act. Sponsor: Rep. Karl Bohnak ® + 5 co-sponsors Latest vote: House Third Reading: Roll Call #333 — 105-1 (passed, 2026-07-03) Latest action (2026-07-29): Assigned Pa 32’26 With Immediate Effect
Why this matters
Restricting certain businesses from purchasing residential property is a significant housing and land-use policy intervention aimed at institutional/corporate ownership of homes, with downstream effects on housing supply, rental markets, and household purchasing power. As an enacted new act (PA 32 of 2026), it establishes a novel regulatory regime in Michigan rather than tweaking an existing program, making it a foundational entry for tracking future amendments, enforcement, and exemptions.