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Committee backs two‑year rent‑reporting pilot to add positive rental payments to credit reports
Summary
The committee advanced a bill that authorizes a two‑year rent‑payment reporting pilot administered by the state treasurer (via a contracted third party). Tenants may opt in or opt out; the pilot includes tenant notice, a removal process for noncompliance, and reporting back to the legislature on participation and reasons for removal.
Senate Economic Development, Housing & General Affairs approved moving a bill that contains a two‑year rental payment reporting pilot program the state treasurer would implement through a contracted third‑party administrator. The program would allow participating landlords to have tenant rent payments reported to national credit reporting agencies after an individual tenant elects participation, and would require clear tenant notice and a process for removal from the program for failure to comply.
Dan Wood of the Office of Legislative Council explained the pilot's mechanics: the treasurer "contracts with a third party to administer the program" and the contractor must "enter into an agreement with 1 or more…
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