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. This program aims to enable low-income tenants renting subsidized dwelling units to build credit by reporting their rent payments to consumer reporting agencies. Landlords can volunteer to participate and must provide tenants with information about the program. Tenants can choose to participate voluntarily and may be charged a monthly fee of up to $10 for credit reporting services.
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- Core Provisions
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- Impact
- Legal Framework
- Critical Issues
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