Alex Lee
- Democratic
- Assemblymember
- District 24
Author
Existing law provides that real property within the state is governed by the law of this state, except where title is in the United States. Existing law generally regulates the obligations of owners with respect to real property. This bill would prohibit a business entity, as defined, that has an interest in more than 1,000 single-family residential properties from purchasing, acquiring, or otherwise obtaining an ownership interest in another single-family residential property and subsequently leasing the property, as specified. The bill would authorize the Attorney General to bring a civil action for a violation of these provisions, and would require a court in a civil action in which the Attorney General prevails to order specified relief, including that the business entity pay a civil penalty of $100,000 for each violation and that the business entity sell the property to an independent third party within one year of the date that the court enters judgment. The bill would require that these provisions be the exclusive means of enforcement of these provisions. The bill would define various terms for these purposes.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on JUD.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 42. Noes 18. Page 2005.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 11. Noes 2.) (May 23).
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 1.) (March 25). Re-referred to Com. on APPR.
Read first time.
From printer. May be heard in committee March 24.
Introduced. To print.
| Bill Text Versions | Format |
|---|---|
| AB1240 | HTML |
| 02/21/25 - Introduced | |
| 06/19/25 - Amended Senate |
| Document | Format |
|---|---|
| 03/21/25- Assembly Judiciary | |
| 04/08/25- Assembly Appropriations | |
| 05/28/25- ASSEMBLY FLOOR ANALYSIS |
Data on Open States is updated periodically throughout the day from the official website of the California State Legislature.
If you notice any inconsistencies with these official sources, feel free to file an issue.