A5424 — Promotes housing availability and prevents speculation by imposing fee for institutional ownership of certain unproductive residential property.

A5424 — Promotes housing availability and prevents speculation by imposing fee for institutional ownership of certain unproductive residential property. · Informed CitizenryThe act imposes a fee on an institutional investor that holds, acquires, or purchases any ownership interest in a subject property. The fee amount is calculated by multiplying $30,000 by the number…Open in Informed Citizenry