Bill > HF2123

This bill requires landlords with more than ten residential rental units to offer tenants the option of reporting their on-time rent payments to credit bureaus, which could help improve tenants' credit scores. Participation in the rent reporting program would be voluntary, free for tenants, and able to be discontinued at any time with a 30-day removal process. The bill appropriates $500,000 in both fiscal years 2026 and 2027 to the Minnesota Housing Finance Agency to provide grants to landlords to help cover the costs of implementing this credit reporting service, with priority given to landlords with units occupied by low-income tenants (those earning at or below 50% of the area median income). Additionally, the Minnesota Housing Finance Agency must collect data on the program's participation and effectiveness and submit a report to legislative committees by March 1, 2027, detailing the findings of the rent payment reporting initiative.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2123&ssn=0&y=2025