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Committee advances bill letting Georgians sue large investors owning thousands of single-family homes
Summary
The House Judiciary Committee advanced House Bill 555 on Oct. 27, a measure creating a private right of action against business enterprises that own more than 2,000 single-family residences in Georgia and authorizing statutory damages to be sought by aggrieved parties.
The House Judiciary Committee on Oct. 27 advanced House Bill 555, a wide-ranging measure aimed at institutional investors that buy large portfolios of single-family residential properties. The bill creates a private cause of action against business enterprises that "obtain, own, or possess an interest in" more than 2,000 single-family residences in Georgia and authorizes statutory damages and other remedies, supporters said.
Representative Jamal McCollum (sponsor) framed the bill as a private-law mechanism to return single-family housing to Georgia families without direct state regulation that could run afoul of interstate commerce limitations. He described the measure as a private-attorney-general vehicle that would permit statutory damages of $15,000 per violation and actual damages for those harmed;…
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