North Carolina 2025 Session Status: In Committee Bipartisan · 4 D · 2 R cosponsors

SB 199 — Home Ownership Market Manipulation.

Last action — Passed 1st Reading

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 27, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Advancing 42% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 6 sponsors

    0 primary, 6 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (4 D · 2 R) — cross-party backing.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

14 added · 15 removed

Plain-language change summary

The latest version of Senate Bill 199 includes a few minor adjustments in language and removes some specific identification numbers. The changes primarily enhance clarity about who is affected by the law concerning the purchase of single-family homes and reinforce the authority of the Attorney General regarding potential violations. This matters because it ensures that the bill is easy to understand and accurately reflects its intentions, potentially helping to protect consumers and maintain fair housing practices.

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FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Feb 27, 2025 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 S 1 SENATE BILL 199 Short Title:
199 SESSION 2025 PRINCIPAL CLERK S D SENATE BILL DRS15075-MC-113 Short Title:
A BILL TO BE ENTITLED AN ACT TO PROHIBIT HOUSING MARKET MANIPULATION AND TO PROTECT AGAINST ARTIFICIAL INFLATION BY EXCESSIVE HOME BUYING BY ENTITIES PURCHASING HOMES FOR USE AS RENTAL PROPERTIES.
Rules and Operations of the Senate March 3, 2025 A BILL TO BE ENTITLED AN ACT TO PROHIBIT HOUSING MARKET MANIPULATION AND TO PROTECT AGAINST ARTIFICIAL INFLATION BY EXCESSIVE HOME BUYING BY ENTITIES PURCHASING HOMES FOR USE AS RENTAL PROPERTIES.
Chapter 75 of the General Statutes is amended by adding a new Article to read:
Chapter 75 of the General Statutes is amended byadding a new Article to read:
– A fiduciary, a firm, an association, a partnership, a limited liability company, a corporation, or other business entity or group acting as a unit.
– A fiduciary, a firm, an association, a partnership, a limited liability company, a corporation, or other business entityor group acting as a unit.
*DRS15075-MC-113* General Assembly Of North Carolina Session 2025 (4) Qualifying county.
*S199-v-1* General Assembly Of North Carolina Session 2025 (4) Qualifying county.
It is unlawfulforaperson, including affiliates oftheperson,to purchaseasingle-family home in a qualifying county for a purpose other than use by the person as a residence if the person, including affiliates of the person, owns 100 or more single-family homes in qualifying counties that are used primarily for rental purposes.
It is unlawfulforaperson, includingaffiliates oftheperson,to purchaseasingle-familyhome in a qualifying county for a purpose other than use by the person as a residence if the person, including affiliates of the person, owns 100 or more single-family homes in qualifying counties that are used primarily for rental purposes.
(c) A court may award to a defendant who prevails in an action brought pursuant to this section costs and fees, including reasonable attorneys' fees, if the court finds the action was not well-grounded in fact and warranted by existing law or was interposed for any improper purpose, such as to harass or to cause unnecessary delay or needless increase in the cost of litigation.
(c) A court may award to a defendant who prevails in an action brought pursuant to this section costs and fees, including reasonable attorneys' fees, if the court finds the action was not well-grounded in fact and warranted byexisting law or was interposed for anyimproper purpose, such as to harass or to cause unnecessary delay or needless increase in the cost of litigation.
(f) This Article shall not be construed to limit rights and remedies available to the State of North Carolina or to any person under any other law and shall not alter or restrict the Attorney General's authority under this Article with regard to conduct involving assertions of violations of this Article." SECTION 2.
(f) This Article shall not be construed to limit rights and remedies available to the State of North Carolina or to any person under anyother law and shall not alter or restrict the Attorney General's authorityunder this Article with regard to conduct involving assertions of violations of this Article." SECTION 2.
Page 2 DRS15075-MC-113
Page 2 Senate Bill 199-First Edition
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How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

This bill enacts new provisions to prohibit housing market manipulation by limiting the number of single-family homes that entities can purchase for rental purposes in certain counties.

  • Chapter 75

    Article 9. "Housing Market Manipulation." "§ 75-150. Purpose. (a) The General Assembly finds that North Carolina has experienced urban growth at levels significantly higher than many states. The General Assembly does not wish to inhibit the ownership of property but recognizes that it is becoming increasingly common for business entities to purchase substantial numbers of single-family homes for use as rental properties, both lowering the supply of, and increasing the costs of, such homes. The General Assembly further finds that home ownership is recognized as one of the most reliable ways to build wealth, permitting owners to build equity, which can serve as reserves in times of need, and in terms of passive income and increases in market value of owned property. (b) The General Assembly seeks, by this narrowly tailored Article, to balance the interests of building wealth through the use of business entities acquiring properties for rental purposes against the State, local, and individual economic benefits that result from having a citizenry broadly engaged in and accruing the advantages attendant to home ownership." "§ 75-151. Definitions. The following definitions apply in this Article:... "§ 75-152. Impermissible ownership quotas. It is unlawfulforaperson, includingaffiliates oftheperson,to purchaseasingle-familyhome in a qualifying county for a purpose other than use by the person as a residence if the person, including affiliates of the person, owns 100 or more single-family homes in qualifying counties that are used primarily for rental purposes." "§ 75-153. Enforcement; remedies; damages."

    This addition creates a new article that addresses housing market manipulation and sets rules for home purchases by entities.

Action History

  1. Passed 1st Reading

  2. Ref To Com On Rules and Operations of the Senate

  3. Filed

Sponsors

Sponsorship breakdown

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0 sponsors · 6 co-sponsors · 173 not signed on

Sponsors (0)

None.

Co-sponsors (6)

Not signed on (173)

173 members have not signed on to this bill.

Show all 173 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 199?
SB 199 is sponsored by Caleb Theodros (Democratic), Mujtaba A. Mohammed (Democratic), Tom McInnis (Republican), Lisa Grafstein (Democratic), Gale Adcock (Democratic), and Timothy D. Moffitt (Republican).
What is the current status of SB 199?
This bill is in committee in the Senate. Introduced February 27, 2025. It must pass committee before a floor vote.
Where can I track SB 199?
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