HB 3769
Directs the Department of Consumer and Business Services to establish a program to register all dwelling units that are rented or available for rent.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill directs the Department of Consumer and Business Services to create a program for registering rental dwelling units. The program will require owners to provide information about their ownership structure, including details about the ultimate parent owner. Failure to register a unit will result in a civil penalty, and large property owners will be subject to additional fees. Revenue collected will be deposited into a fund for homeownership assistance.
Key provisions
- The Department of Consumer and Business Services must establish a registration program for rental dwelling units.
- Registration requirements include details about the owner and ultimate parent owner's structure.
- Specific criteria are outlined for identifying potentially complex ownership structures.
- A civil penalty will be assessed for failure to register a dwelling unit.
- Large property owners (owning more than a specified number of units) will pay an additional fee.
- Fees collected will be deposited into the Home Ownership Assistance Account.
- The department can retain funds to cover administrative costs.
- The program will track the number of registered dwelling units.
Who is affected
- Rental property owners
- Landlords
- The Department of Consumer and Business Services
- Entities owning multiple dwelling units
- Investors in real estate
Notable changes
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