Bill > S718

This bill aims to establish a three-year pilot program that would allow eligible organizations, such as local housing authorities and affordable housing property management companies, to implement a credit-building program. The program would use rental payments as a mechanism for credit-building, where the organizations would report tenants' timely rent payments to credit bureaus. The bill also requires the program to provide financial education and coaching to tenants, as well as track and report on various data points related to the program's impact on participants' credit scores and financial capability. An advisory committee would be established to provide assistance and oversight for the implementation of the pilot program.

Housing and Urban Affairs

https://malegislature.gov/Bills/190/S718