Bill > SF2807

This bill establishes a new requirement for 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. Importantly, tenants cannot be required to participate in such a program, cannot be charged for it, and can opt out at any time with the landlord removing them from the reporting within 30 days. The bill also appropriates $500,000 in both fiscal years 2026 and 2027 from the general fund 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 tenants earning at or below 50 percent of the area median income. Additionally, the Housing Finance Agency is required to collect data on the program's participation and effectiveness, and must prepare a report for legislative committees by March 1, 2027, detailing the findings of this data collection effort.

Justice

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2807&ssn=0&y=2025