Plain English Breakdown
The official source material does not specify the exact impact on renters and tenants, only property owners and the Mayor's office.
Certificate of Assurance Moratorium Act
This act suspends the process for requesting and issuing certificates of assurance related to rent stabilization laws in Washington, D.C., due to a review by Congress.
What This Bill Does
- Suspends property owners' ability to request certificates of assurance for rental housing.
- Prevents the Mayor from issuing certificates of assurance during this suspension period.
- Limits the duration of this moratorium to no longer than 90 days, unless extended or made permanent by further action.
- Requires a fiscal impact statement to be adopted by the Council.
Who It Names or Affects
- Property owners who manage rental housing in Washington, D.C.
- The Mayor's office responsible for issuing certificates of assurance
Terms To Know
- Certificate of Assurance
- A document issued to property owners that allows them to adjust rental prices according to specific rules.
- Moratorium
- A temporary suspension or halt on a particular activity, in this case the issuance and request for certificates of assurance.
Limits and Unknowns
- The moratorium will expire after 90 days unless extended by further legislation.
- It is unclear how long Congress's review process will take and whether it will affect future decisions on rent stabilization laws.