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--- version:As Introduced+++ version:(document, no version)@@ -1,162 +1,38 @@- A.B. 68+Date: February 19, 2025+Submitted to: Assembly Commerce and Labor Committee+Re: Opposition to AB 68 As Introduced.-- *AB68*--ASSEMBLY BILL NO. 68–COMMITTEE-ON COMMERCE AND LABOR--(ON BEHALF OF THE STATE TREASURER)--PREFILED NOVEMBER 20, 2024-____________--Referred to Committee on Commerce and Labor--SUMMARY—Revises provisions relating to housing.-(BDR 10-478)--FISCAL NOTE: Effect on Local Government: No.- Effect on the State: No.--~--EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.--AN ACT relating to consumer reporting; requiring certain landlords-to make a written offer to a tenant to report positive rental-payment information to a t least one consumer reporting-agency which meets certain criteria; providing-requirements related to the reporting of positive rental-payment informati on; and providing other matters-properly relating thereto.-Legislative Counsel’s Digest:- Existing law requires a landlord and a tenant to perform certain obligations 1-with respect to a lease of real property. (Chapter 118A of NRS) Section 1 of this 2-bill requires a landlord of a dwelling u nit to make a written offer to each tenant to 3-report the positive rental payment information of the tenant to at least one: (1) 4-consumer reporting agency that compiles and maintains files on consumers on a 5-nationwide basis; or (2) consumer reporting agency that resells or otherwise 6-furnishes rental payment information to a consumer reporting agency that compiles 7-and maintains files on consumers on a nationwide basis. Section 1 additionally: (1) 8-prescribes the contents of the written offer ; (2) requires a landlord to provide the 9-tenant with a self -addressed, stamped envelope to return the acceptance of the 10-written offer to the landlord; (3) authorizes a tenant to accep t the written offer at 11-any time after receipt; (4) authorizes a landlord to charge a fee for the reporting; (5) 12-authorizes a landlord to stop reporting the positive rental payment information if 13-the fee remains unpaid by the tenan t for 30 days or more; and (6) r equires a 14-landlord to stop reporting the positive rental payment information upon request. 15-Section 1 exempts from these provisions a landlord of a premises that includes 15 16-or fewer rental dwelling units unless the landlord meets certain criteria. 17-- – 2 –--- *AB68*--THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN-SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:-- Section 1. Chapter 118A of NRS is hereby amended by 1-adding thereto a new section to read as follows: 2- 1. Except as otherwise provided in subsection 9, a landlord of 3-a dwelling unit shall make a written offer to each tenant to report 4-the positive rental payment information of the tenant to at least 5-one: 6- (a) Consumer reporting agency that compiles and maintains 7-files on consumers on a nationwide basis; or 8- (b) Consumer reporting agency that resells or otherwise 9-furnishes rental payment information to a consumer reporting 10-agency that compiles and maintains files on consumers on a 11-nationwide basis. 12- 2. The written offer required pursuant to subsection 1 must 13-include: 14- (a) A statem ent that the reporting of the positive rental 15-payment information of the tenant is optional; 16- (b) The name of each consumer reporting agency to which 17-positive rental payment information will be reported; 18- (c) The amount of any fee charged pursuant to subsection 6; 19- (d) Instructions on how to submit an acceptance of the written 20-offer to the landlord by mail; 21- (e) A statement that the ten ant may opt in to the reporting of 22-the positive rental payment information of the tenant at any time 23-following receipt of the written offer from the landlord; 24- (f) A statement that the tenant may elect to stop the reporting 25-of the positive rental payment information of the tenant at any 26-time, but that the tenant will not be able to resume the reporting 27-for at least 6 months after such an election is made; 28- (g) Instructions on how to stop the reporting of the positive 29-rental payment information; and 30- (h) A signature block that the tenant must date and sign in 31-order to accept the written offer. 32- 3. The landlord shall make the written offer required 33-pursuant to subsection 1 at the time of the lease agreement and at 34-least annually thereafter. 35- 4. When the landlord makes the written offer required 36-pursuant to subsection 1 , the landlord shall provi de the tenant 37-with a self -addressed, stamped envelope to return the acceptance 38-of the written offer to the landlord. 39- 5. A tenant may accept a written offer to report the positive 40-rental payment information of the tenant at any time after the 41-- – 3 –--- *AB68*-tenant receives the written offer. Upon request by a tenant, at any 1-time, the landlord shall provide the tenant addi tional copies of the 2-written offer. 3- 6. If a tenant accepts the written offer to report the positive 4-rental payment information of the tenant , the land lord may 5-require the tenant to pay a fee in an amount not to exceed the 6-actual cost to the landlord to report the positive rental payment 7-information or $10 per month , whichever is less . If the landlord 8-does not incur any actual cost to report the positive rental payment 9-information, the landlord shall not charge the tenant any fee for 10-the reporting. 11- 7. If a tenant fails to pay a fee charged pursuant to 12-subsection 6: 13- (a) The failure to pay the fee shall not be cause for termination 14-of the tenancy; 15- (b) The landlord shall not deduct the unpaid fee from the 16-security deposit of the tenant or any surety bond purchased by the 17-tenant in lieu of paying all or part of the security deposit; 18- (c) The failure to pay the fee shall not be reported to a 19-consumer reporting agency; and 20- (d) If the fee remains unpaid for 30 days or more, the landlord 21-may stop reporting the positive rental payment information of the 22-tenant and the tenant may not elect to resume the reporting for 6 23-months from the date on which the fee first became due. 24- 8. A tenant who accepts the written offer to report the positive 25-rental payment information of the tenant may subsequently file a 26-written request with the landlord to sto p th e reporting. The 27-landlord shall comply with this requ est. The tenant may not elect 28-to resume the reporting for at least 6 months from the date of the 29-tenant’s written request to stop the reporting. 30- 9. The provisions of this section do not apply to a landlord of 31-a premises that includes 15 or fewer dwelling units for occupancy 32-under a rental agreement unless: 33- (a) The landlord is the owner of more than one premises that 34-includes at least one dwelling un it for occupancy under a rental 35-agreement, regardl ess of the number of dwelling units at each 36-premises; and 37- (b) The landlord is: 38- (1) A real estate investment trust, as defined in 26 U.S.C. 39-§ 856; 40- (2) A corporation; or 41- (3) A limited liability company in which at least one 42-member is a corporation. 43- 10. For purposes of this section: 44-- – 4 –--- *AB68*- (a) “Consumer reporting agency” has the meaning ascribed to 1-it in 15 U.S.C. § 1681a(f). 2- (b) “Consumer reporting agency that compiles and maintains 3-files on consumers on a nationwide basis” has the meaning 4-ascribed to it in 15 U.S.C. § 1681a(p). 5- Sec. 2. On or before October 1, 2025, a landlord shall provide 6-the written offer required pursuant to subsection 1 of section 1 of 7-this act to each tenant who is a party to a rental agreement enter ed 8-into before July 1, 2025. 9- Sec. 3. This act becomes effective on July 1, 2025. 10--H+Good afternoon, Thank you Chair and Committee for the opportunity to speak in Opposition to AB 68, as introduced.+My name is Lucia Maloney. I’m a small business owner and Carson City resident. I was born in Northern Nevada and+have a Legal Studies Degree from the University of California at Berkeley.+I applaud the committee for working to addres s a regulatory gap that critically impacts lower-income families and+young adults who rent their homes and are working to grow their credit and live the American dream here in Nevada.+According to ConsumerFinance.gov, “Payment history is the number one factor for building a strong credit score.”+Unfortunately, Nevada’s lack of regulatory guidelines that ensure timely credit reporting of on -time payments by+renters, means that renters aren’t seeing their credit score grow as it rightfully should.+What makes a good regulation? It directly solves a problem, it’s clear, it’s enforceable, and it’s fair.+As introduced, AB 68 fails to directly solve the problem as it requires ongoing and burdensome action by the renters+themselves to see the benefits that this bill is trying to provide.+As introduced, it’s not clear in it ’s prescription of written back- and-forth between landlord and renter . Further,+renters have no readily accessible means of verifying whether their landlord is required to report their payment+history. How would they know how many units their landlord owns?+As introduced, it ’s unenforceable and arbitrarily selective of which landlords are required to participate . It’s+unenforceable and arbitrarily burdensome on small businesses . Why should someone who incorporates into a+Nevada LLC be required to do credit reporting, but not someone who simply invests in their own name? How is that+differentiator helping renters?+As introduced, AB 68 creates a perpetual bureaucratic back -and-forth of who should report, do you want me to+report, will you please reimbursement me for reporting, but I can’t evict you if you don’t pay me for reporting, but do+you want me to report now, oh wait I sold my other property so now I don’ t need to report your on -time payments+anymore…+As introduced AB 68 is good intentions gone awry.+I respectfully request that we clean this thing up.+Let’s draft a bill that simply requires monthly reporting of long -term rental payments (on-time or otherwise) , to be+submitted by all landlords. Include that the cost of the reporting may be added to and bundled with the monthly rent.+Require disclosure of reporting as required through this Bill, in the contract to lease.+Please, let’s reduce the regulatory burden of solving the problem, and actually solve the problem.+Again, my name is Lucia Maloney, I am opposed to AB 68 as introduced, but am hopeful that it can be modified and+the good intent realized. Thank you.+Lucia Maloney+Carson City Resident+Maloney.lucia@gmail.com+530-412-3521
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