The proposed bill enacts a new section within the Uniform Owner-Resident Relations Act that specifically addresses the use of artificial intelligence in manipulating 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 clarifies that a "coordinator" is a person or entity that operates software or data analytics services for property owners, but excludes government entities and certain data services that do not recommend specific pricing.

The bill makes it unlawful for property owners or their agents to engage with coordinators for the purpose of manipulating rent prices, as well as for coordinators to facilitate agreements that restrict competition among property owners. Additionally, it prohibits multiple rental property owners from participating in consciously parallel pricing coordination. This legislation aims to promote fair competition in the rental market and prevent the artificial inflation of rent prices through coordinated efforts among property owners.