Sen. Keyeski introduces Wisconsin Senate bill to restrict hedge fund home purchases

Sarah Keyeski, Wisconsin State Senator for 14th District | Facebook

By C. I. Dougherty

Apr 17, 2025

A new bill authored by State Sen. Sarah Keyeski in the Wisconsin Senate seeks to prohibit hedge funds from acquiring single-family homes to address housing concerns, according to the Wisconsin State Senate.

According to the Wisconsin State Legislature's official website, the bill was described as follows: "prohibiting hedge funds from acquiring single-family homes in this state. (FE)".

The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.

In essence, this bill prohibits hedge funds from acquiring single-family homes in Wisconsin, defining hedge funds as organizations managing investor funds with net assets or value of $50 million or more, excluding non-profits exempt under section 501(c)(3) and 501(a) of the Internal Revenue Code. Any ownership interest in single-family homes acquired by hedge funds in violation of this bill will be forfeited to the state. The attorney general is tasked with enforcement. The prohibition takes effect the first day of the first month following the bill's effective date, excluding pre-existing hedge fund-owned properties from forfeiture.

The bill was co-authored by Representative Kalan Haywood (Democrat-16th District), Senator Tim Carpenter (Democrat-3rd District), Senator Kristin Dassler-Alfheim (Democrat-18th District), Senator Dora E. Drake (Democrat-4th District), Senator Jodi Habush Sinykin (Democrat-8th District). It was co-sponsored by Representative Clinton M. Anderson (Democrat-45th District), Representative Mike Bare (Democrat-80th District), and Representative Elijah R. Behnke (Republican-6th District), along 31 other co-sponsors.

Sarah Keyeski has authored or co-authored another 27 bills since the beginning of the 2025 session, with none of them being enacted.

Keyeski graduated from Luther College in 1993 with a BA.

Keyeski, a Democrat, was elected to the Wisconsin State Senate in 2021 to represent the state's 14th Senate district, replacing previous state senator Joan Ballweg.

In Wisconsin, the legislative process starts when a senator, constituent, group, or agency proposes an idea for a bill. After drafting, the bill is introduced, numbered, and referred to a committee for review and public input. If approved, it moves through three readings and votes in both the Senate and Assembly. Once both chambers pass the same version, the bill goes to the governor, who can sign it, veto it, or let it become law without a signature. Only a small share of bills introduced each session ultimately become law. You can learn more about the Wisconsin legislative process here.

Bills Introduced by Sarah Keyeski in Wisconsin Senate During 2025 Regular Session

Bill Number	Date Introduced	Short Description
SB208	04/16/2025	Prohibiting hedge funds from acquiring single-family homes in this state. (FE)
SB160	03/27/2025	Designating the Tom Diehl Memorial Highway. (FE)
SB148	03/21/2025	The right to repair agricultural equipment, and providing a penalty. (FE)
SB133	03/14/2025	Maximum life and allocation period for Tax Incremental District Number 9 in the village of DeForest and the total value of taxable property that may be included in tax incremental financing districts created in the village of DeForest. (FE)
SB67	02/21/2025	Providing state aid to reimburse public and private schools that provide free meals to all pupils for the costs of those meals and making an appropriation. (FE)