Precludes a legal entity from owning property whose value is over $25,000,000. If the property value exceeds $25,000,000, then the entity must divest a graduated yearly amount over the next 10 years, until value is less than $25,000,000.

Rhode Island Property Ownership Cap Bill

This bill would set a $25 million limit on how much real estate a legal entity — such as a corporation, LLC, trust, or other business organization — can own in Rhode Island. Individual people would not be affected, only organized business or legal entities. If an entity currently owns property worth more than $25 million, it would not face an immediate forced sale. Instead, it would be given up to 10 years to gradually sell off ("divest") enough property to get below that threshold, with required sell-off amounts increasing over time on a sliding scale.

The bill would primarily affect large corporations, real estate investment companies, institutional investors, and other business entities that hold significant amounts of property in Rhode Island. This could include landlords who own many rental properties, commercial real estate firms, and large landholders. These entities would need to track the value of their Rhode Island holdings and plan to reduce them if they exceed the $25 million cap.

Currently, the bill has been referred to the House Judiciary Committee, which recommended it be held for further study — meaning lawmakers want more time to examine it before taking any action. A hearing has been scheduled for March 26, 2026. The bill has not yet been voted on and would need to pass both chambers of the Rhode Island legislature and be signed by the governor before becoming law.