Establishes a four-year "Rent for Credit Pilot Program" in the Department of Community Affairs to help low-income tenants build credit.

The bill establishes a four-year "Rent for Credit Pilot Program" within the Department of Community Affairs. The program aims to help low-income tenants who rent subsidized dwelling units build credit by reporting their rent payments to consumer reporting agencies. Landlords can volunteer to participate, and tenants can choose to join the program. If a tenant opts in, the landlord may charge a monthly fee of up to $10 or a fee covering the cost of reporting, whichever is less. Nonpayment of the fee for 30 days will result in the landlord ceasing to report the tenant's rental payments.

Establishes a four-year "Rent for Credit Pilot Program" in the Department of Community Affairs to help low-income tenants build credit.

The bill establishes a four-year "Rent for Credit Pilot Program" within the Department of Community Affairs. The program aims to help low-income tenants who rent subsidized dwelling units build credit by reporting their rent payments to consumer reporting agencies. Landlords can volunteer to participate, and tenants can choose to join the program. If a tenant opts in, the landlord may charge a monthly fee of up to $10 or a fee covering the cost of reporting, whichever is less. Nonpayment of the fee for 30 days will result in the landlord ceasing to report the tenant's rental payments.