FIRST REGULAR SESSION
SENATE BILL NO. 683
103RD GENERAL ASSEMBLY
INTRODUCED BY SENATOR BECK.
2597S.04I KRISTINA MARTIN, Secretary
AN ACT
To amend chapter 442, RSMo, by adding thereto one new section relating to the acquisition of real
property by certain business entities.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Chapter 442, RSMo, is amended by adding thereto 1
one new section, to be known as section 442.700, to read as 2
follows:3
442.700. 1. For purposes of this section, the 1
following terms mean: 2
(1) "Foreign corporation": 3
(a) An investment vehicle that: 4
a. Consists of not more than one hundred fifty private 5
investors; 6
b. Is not required to register as an investment 7
company with the United States Securities and Exchange 8
Commission; 9
c. Has fifty million dollars or more in net value or 10
assets under management on any day during any taxable year; 11
and 12
d. Has a primary place of business located outside of 13
the state of Missouri; 14
(b) The term "foreign corporation" shall not include 15
any bank or other entity incorporated in this state subje ct 16
to chartering, licensing, or regulation by the Missouri 17
division of finance; 18 SB 683 2
(2) "Residential real estate", real property improved 19
by a structure that is used or intended to be used for 20
residential living by human occupants containing not more 21
than four dwelling units. 22
2. Beginning August 28, 2025, a foreign corporation or 23
any affiliate or subsidiary thereof shall not acquire, 24
directly or indirectly, any residential real estate in this 25
state. The attorney general may bring a cause of action in 26
any circuit court with proper jurisdiction if the attorney 27
general has reason to believe that a foreign corporation or 28
any affiliate or subsidiary thereof has acquired, directly 29
or indirectly, any residential real estate in this state on 30
or after August 28, 2025. If the court finds that 31
residential real estate has been acquired in violation of 32
this section, the court shall order the sale of the 33
residential real estate not later than ninety days after the 34
order. 35