Treasurer outlines a $100,000 pilot to report on‑time rental payments to credit bureaus; staff seek opt‑in design and later start date

The Office of the State Treasurer described a pilot program to report tenants’ on‑time rental payments to consumer credit bureaus, a practice some states have used to help tenants build credit histories.

Becky Wasserman of the Treasurer’s Office told the committee the office reviewed model programs (California, Colorado and a Fannie Mae pilot) and recommended a positive‑only reporting design: participating landlords (or third‑party administrators) would report timely rent payments but not late or nonpayment. The pilot design presented to the committee would be administered by a contracted vendor; the treasurer’s office would not operate day‑to‑day reporting itself.

The Treasurer’s Office proposed a $100,000 appropriation to fund the pilot and suggested the pilot contract be in place by May 1, 2026 to allow time for an RFP, vendor selection and tenant/landlord recruitment. Staff recommended starting with an opt‑in design for tenants during the demonstration; committee members discussed opt‑out models and noted pros and cons (opt‑out increases participation but raises privacy and consent considerations).

Becky also asked that the financial‑education requirement in the draft be optional rather than mandatory, saying optional education retains tenants’ access while reducing barriers to participation. She recommended an interim report partway through the two‑year pilot with a final report at the end of the pilot period.

Committee members expressed support for testing the program and thanked the Treasurer’s Office for drafting the pilot language. The committee did not adopt any appropriation during this meeting; language and timeline adjustments were requested before the committee advances the pilot in bill form.