BOHNAK

LANSING — House Bill 6074, introduced by Representative Karl Bohnak (R-Deerton) on June 10, passed in the Michigan House on Thursday with 102 yes votes, three no votes and five not voting.

The bill, if passed in the Michigan Senate and signed by Gov. Gretchen Whitmer, would prohibit large institutional investors from purchasing single-family homes.

“Large institutional investors” is a term defined in the bill as “an investment fund, corporation, general or limited partnership, limited liability company, joint venture, association, or other for-profit entity … (that) is engaged, in whole or in part, in the business of investing in, owning, renting, managing, or holding single-family homes … (and that) directly or indirectly has investment control of more than 100 single-family homes in the aggregate in this state.”

The term would not apply to any government or tribal entity.

This bill would prevent entities who own more than 100 similar properties from purchasing additional single-family homes.

“My housing plan will help protect the path to homeownership for working families,” said Bohnak in a statement released by Michigan House Republicans. “It stares down corporate greed by blocking big business from invading Michigan’s housing market armed with buying power no average person could compete with. Single-family homes should be purchased by families, not out-of-state billionaires who see our communities as nothing more than dollar signs.”

The bill would subject violators to fines of up to $25,000 for each home purchased in violation of the law.

“There are so many people, young and old, who are struggling to find homes right now,” said Bohnak. “Whether it’s a new teacher fresh out of college or a recent retiree looking to downsize, flexible homeownership options just aren’t there. My plan alone will not fix this crisis, but by ensuring giant corporations aren’t monopolizing a huge chunk of our housing inventory, we can protect the single-family homes we already have.”

More information on House Bill 6074 is available at legislature.mi.gov/Bills/Bill?ObjectName=2026-HB-6074.

Annie Lippert can be reached at 906-228-2500, ext. 550. Her email address is alippert@miningjournal.net.