The proposed legislation, General Assembly Raised Bill No. 6947, aims to prohibit residential rental property owners in Connecticut from utilizing pricing algorithms and competitors' sensitive data to determine rental prices. The bill defines "competitors' sensitive data" as non-public information related to actual rent prices, occupancy rates, and lease details, while "pricing algorithm" refers to any software that calculates rental prices based on such data. Under the new law, effective July 1, 2025, it will be illegal for landlords to sell, license, or use any pricing algorithms that advise on rental rates, as well as to use competitors' sensitive data for training or operating these algorithms. Violations of this law will be classified as unfair or deceptive trade practices.

Additionally, the bill includes a revision to Section 47a-1 of the general statutes, which will now incorporate the new provisions regarding pricing algorithms and competitors' sensitive data. The existing language in this section will be amended to include references to the new regulations, ensuring that the definitions and terms used in the housing statutes are consistent with the prohibitions established by this act. The overall intent of the bill is to promote fair rental practices and protect tenants from potential exploitation through algorithm-driven pricing strategies.

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Raised Bill: