This bill:

• defines terms, including "single-family home";
• establishes a registration requirement for owners, including property managers, of single-family homes used for rental;
• imposes a penalty for failure to register;
• requires notice of the registration requirement to be included with the 2026 property valuation notice;
• subjects an owner of 25 or more single-family homes used for rental to an excise tax per home;
• requires the Division of Real Estate to provide owners who register with information about the excise tax and to share information about registered property with the county assessors for purposes of verifying eligibility for the primary residential exemption;
• creates a competitive grant program for a municipality to obtain funding to transition single-family homes to owner-occupied homes;
• schedules the repeal of the registration requirement, the excise tax, and the grant program but requires legislative review before repeal; and
• makes technical and conforming changes.