Plain English Breakdown
The bill summary and text do not provide details on what happens if a landlord violates the rules, leaving this aspect uncertain.
Rent Rules for Affordable Housing
This bill defines 'affordable' and 'base rent', and stops landlords who receive funding or tax breaks for providing affordable housing from raising base rents during a lease period.
What This Bill Does
- Defines what 'affordable' means based on government guidelines.
- Explains that 'base rent' is the starting price for renting an apartment, set by a formula using income data from HUD.
- Prohibits landlords who receive federal, state, or local funding or tax incentives for providing affordable housing from increasing base rents during the term of a rental agreement.
Who It Names or Affects
- Landlords of affordable housing units
- Tenants living in affordable housing units
Terms To Know
- affordable
- Housing that costs less than a certain percentage of someone's income, based on government rules.
- base rent
- The starting price for renting an apartment before any housing help is applied.
Limits and Unknowns
- This bill only applies to rental agreements that last up to 13 months and start on or after July 1, 2027.
- It does not specify the consequences if a landlord breaks these rules.