The proposed bill enacts a new section of the Uniform Owner-Resident Relations Act that specifically prohibits the use of artificial intelligence to manipulate rent pricing. It defines key terms such as "consciously parallel pricing coordination," which refers to tacit agreements among property owners to manipulate rent prices, and "coordinating function," which involves collecting and analyzing rental data to recommend pricing strategies. The bill also clarifies that a "coordinator" is a person or entity that operates software or data analytics services for property owners, with certain exceptions for government entities and services that provide aggregated rental data without specific pricing recommendations.

Under this new legislation, it becomes unlawful for property owners or their agents to engage with coordinators for the purpose of manipulating rent prices. Additionally, it prohibits coordinators from facilitating agreements that restrict competition among property owners regarding residential units. The bill aims to ensure fair competition in the rental market by preventing collusion and the use of advanced technology to unfairly influence rental pricing.