Investors must tell the Secretary each year how many homes they control
What the document says“(A) notify the Secretary each year whether such owner is a large institutional investor as defined in subsection (a); and”
The section requires each person or entity meeting the definition of a large institutional investor, within 180 days of enactment and by December 31 each year after, to tell the Secretary whether it is one, and in that notice to state how many single-family homes it has direct or indirect investment control of and the city and State of each, unless it owns 10 or fewer homes in that city.
What the document actually says“(A) notify the Secretary each year whether such owner is a large institutional investor as defined in subsection (a); and”
The owner must tell the housing agency each year. It must say whether it counts as a large investor under this law.
The notice must also count the homes it controls. It must give the city and state of each one. Cities where it owns ten or fewer are left out.
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