Senator Moreno Circulates Bill Preempting State Housing Rules

Sen. Bernie Moreno (R-Ohio) is circulating draft legislation that would cap institutional ownership at 100 single-family homes while containing clauses that would preempt state and local housing rules. Two drafts, dated Feb. 20 and Feb. 24, vary on total versus limited preemption and include exemptions for build-to-rent projects and homeownership programs. Passage could undercut at least eighteen states’ pending limits on corporate landlords.