Housing Price Transparency Act
Sponsored By: Representative Castor, Kathy [D-FL-14]
Introduced
Summary
This bill would require clear disclosure whenever an algorithm recommends or sets monthly rental rates. It centers on algorithmic rent-pricing transparency.
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- Renters: Tenants would get a clear notice when an algorithm helped set their monthly rent.
- Property owners and platforms: Anyone who uses a pricing algorithm would have to disclose that use; the law defines a "pricing algorithm" to include computational processes like machine learning and other AI.
- Enforcement and states: The Federal Trade Commission would treat violations as unfair or deceptive practices. States may sue on behalf of residents after notifying the FTC, and the FTC can intervene or appeal.
- Individuals: People harmed by algorithmic pricing could seek injunctive relief and money damages equal to actual loss or at least $10,000 per violation, plus attorneys' fees. Claims follow a 2-year discovery-based statute of limitations.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Private lawsuits with $10,000 floor
If enacted, a person harmed by a failure to disclose algorithm pricing would be able to sue in federal court. You could recover actual monetary loss or at least $10,000 for each violation, whichever is greater. Courts would award costs and reasonable attorney's fees. You would have 2 years to sue from when you first discovered or reasonably could have discovered the violation. The remedy would be in addition to any other legal remedies.
Federal and state enforcement rules
If enacted, the Federal Trade Commission would enforce the disclosure rule and treat violations as unfair or deceptive acts under the FTC Act. States could sue on behalf of residents to stop violations and get damages or restitution. States must give written notice and a copy of the complaint to the FTC, and the FTC could intervene, be heard, and appeal. If the FTC or U.S. Attorney General already sued, a State could be barred from suing while that federal action is pending.
Algorithm notice for rental prices
If enacted, landlords, property managers, and rental websites that use an algorithm would have to clearly say an algorithm set the monthly rent. The bill would define a “pricing algorithm” to include any computer process, including machine learning or other AI, that recommends or sets prices or commercial terms. This disclosure requirement would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Castor, Kathy [D-FL-14]
FL • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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