The bill amends the "Residential Landlord and Tenant Act" by introducing a new section, 34-18-63, which prohibits the use of revenue management devices that rely on nonpublic competitor data to set, recommend, or determine rental rates or occupancy levels for residential dwelling units in Rhode Island.

Key definitions are provided, including "nonpublic competitor data," which refers to information not available to the general public, such as actual rent amounts and occupancy levels, and "revenue management device," which encompasses software that uses this data to advise landlords on whether to leave a unit vacant or the amount of rent to charge.

The bill establishes that any violation of this prohibition constitutes an unfair or deceptive trade act or practice under chapter 13.1 of title 6. The attorney general is authorized to investigate and enforce this section, seeking remedies including injunctive relief, civil penalties, restitution, and costs. The act is set to take effect immediately upon passage.