House Bill 305, also known as the Protect the Dream Act, is a proposed piece of legislation in Georgia aimed at curbing corporate influence in the housing market.
Sponsored by Democratic state Rep. Phil Olaleye, the bill seeks to prevent large corporations from buying up multiple properties in a county if they hold around $6 million in property, capping purchases at 25 homes per county.
Olaleye argues that corporate buyers contribute to rising home prices, making housing unaffordable for families, and also pushing up property taxes for current homeowners.
However, the bill has faced opposition from real estate professionals. Jeff Ledford of the Georgia Realtors Association raised concerns about the precedent it sets for determining who can own property.
Some realtors, including Josh Pitre, suggest that limiting buyers could worsen the state’s housing crisis and discourage investment.
The bill is currently under review in committee, and if it passes, it will move forward for a vote in the Georgia House.