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. Effective July 1, 2025, 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. The bill explicitly prohibits the sale or licensing of pricing algorithms to landlords and restricts landlords from using competitors' sensitive data to inform their pricing strategies.

Additionally, the bill amends Section 47a-1 of the general statutes to include references to the new provisions established in this act. It states that any violation of these prohibitions will be considered an unfair or deceptive trade practice under existing law. The intent of the bill is to promote fair rental practices and protect tenants from potential exploitation through the use of advanced pricing strategies that leverage sensitive market data.

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Raised Bill: