General Assembly ProposedCommittee Bill No.

20803482 Referred to Committee on HOUSING Introduced by:

(HSG) AN ACT LIMITING RENT INCREASES IN CERTAIN MULTIFAMILY DWELLINGS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1.

(NEW) (Effective October 1, 2019) No person who has entered into a contract with the state on or after October 1, 2019, through the Commissioner of Housing, for state financial assistance in the form of a state grant-in-aid, loan, deferred loan, loan guarantee or interest subsidy for the construction, rehabilitation or renovation of a multifamily dwelling may increase the rental price of any unit in such dwelling, during the term of such contract, by more than the rate of inflation for the previous calendar year, as determined by the consumer price index.

After the expiration of the contract, such person shall not increase the rental price of any unit in the dwelling by more than ten per cent per year, provided such unit is continuously occupied by the same tenant.

This act shall take effect as follows and shall amend the following sections:

Section 1 October 1, 2019 New section LCO No.

3482 1 of 2 Committee Bill No.

6080 Statement of Purpose:

To limit rent increases by property owners who have received or are receiving state financial assistance for the construction, rehabilitation or renovation of a multifamily dwelling.

[Proposed deletions are enclosed in brackets.

Proposed additions are indicated by underline, not underlined.] the entire text of a bill or resolution or a section of a bill or resolution is new, it is Co-Sponsors:

ANH.B. ACT CONCERNING RENT STABILIZATION.

Be6080 itLCO enactedNo. by the Senate and House of Representatives in General Assembly convened:

That3482 the2 general statutes be amended to stabilize the rental prices of formerly2 subsidized rental properties.

Statement of Purpose:

To stabilize rental prices of formerly subsidized rental properties.

LCO No.

2080 1 of 1