Establishes a pilot program to guarantee rental payments for low-income tenants with poor credit.

The bill establishes the "Guaranteed Rental Payment Pilot Program" within the Department of Community Affairs to study ways of maximizing housing opportunities for households who lack adequate credit histories. The pilot program will select 1,000 low- or moderate-income households who receive rental assistance and have completed a housing and credit counseling program. The program will guarantee to landlords that they will be reimbursed for any default in rental payments by the tenants.

Establishes a pilot program to guarantee rental payments for low-income tenants with poor credit.

The bill establishes the "Guaranteed Rental Payment Pilot Program" within the Department of Community Affairs to study ways of maximizing housing opportunities for households who lack adequate credit histories. The pilot program will select 1,000 low- or moderate-income households who receive rental assistance and have completed a housing and credit counseling program. The program will guarantee to landlords that they will be reimbursed for any default in rental payments by the tenants.