Virginia · 2025 Regular Session · Bill
SB 1140: Single family homes; prohibited acquisition, civil penalty.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 1140 is a bill introduced in the Virginia Senate on January 7, 2025. According to its official title, it concerns: Single family homes; prohibited acquisition, civil penalty. Primary sponsor: Glen Sturtevant (Republican). Most recent recorded action (January 29, 2025): Incorporated by General Laws and Technology (SB1424-VanValkenburg) (14-Y 0-N).
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Prohibited acquisition of single family homes; affidavit; civil penalty. Restricts any partnership, corporation, or real estate investment trust that manages funds pooled from investors; is a fiduciary to such investors; has net value or assets under management on any day during a taxable year; and holds an interest in more than fifty single-family homes from acquiring any interest in any other single-family home, as defined in the bill to include manufactured home parks and single family-residential duplexes, on or after July 1, 2025. The bill also requires an offering purchaser of a manufactured home park to provide a notarized affidavit certifying that the purchaser is not prohibited from acquiring such an interest. Any false statements on such affidavit shall be subject to a civil penalty of up to $10,000 per occurrence for deposit into the Revolving Loan Fund for the Purchase of Manufactured Home Parks pursuant to the appropriation act.
Sponsors
Sponsors by party (alphabetical): Republican 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Glen Sturtevant | Primary sponsor | Republican | Senate | 12 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Incorporated by General Laws and Technology (SB1424-VanValkenburg) (14-Y 0-N)
- Fiscal Impact Statement from Department of Planning and Budget (SB1140)
- Referred to Committee on General Laws and Technology
- Prefiled and ordered printed; Offered 01-08-2025 25103951D