This bill establishes a task force to study the implementation of rental savings accounts in the state. The task force will study the design and operation of tax-advantaged rental savings accounts, as well as the potential impact of such accounts on the banking industry, tenants and landlords, employers, and state revenue. The task force will consist of various appointed members, including representatives from the banking industry, housing advocacy groups, tenants, landlords, employers, and government agencies. The task force will submit a report on its findings and recommendations to the General Assembly by January 1, 2024.
There is no fiscal impact to the state or municipalities as a result of this bill. The task force has the necessary expertise to carry out its duties. The bill has received favorable committee action.