The bill amends Section 34-18-15 of the Residential Landlord and Tenant Act to introduce new requirements for rental agreements and to limit annual rent increases. Key provisions include a cap on rent increases, stipulating that during any twelve-month period, no rent increase shall be in an amount greater than ten percent (10%) plus the increase in the Consumer Price Index (CPI). For the purposes of this section, the Consumer Price Index refers to the Consumer Price Index for all Urban Consumers (CPI-U) as published by the U.S. Department of Labor Statistics, determined as of September 30 of the prior calendar year. The act will take effect upon passage.

Statutes affected:
5676: 34-18-15