Overview
Title
To study the need for, and the feasibility and cost of, establishing a national residential rental registry, and for other purposes.
ELI5 AI
The bill wants to see if it's a good idea to make a big list of all the places people rent to live so they can be kept track of better. It will help decide if this list would be helpful, how much it would cost, and make sure everyone's information is safe.
Summary AI
H. R. 10465 is a bill introduced in the House of Representatives that aims to examine the possibility and benefits of creating a national registry of residential rental properties in the United States. The study, led by the Secretary of Housing and Urban Development, will explore aspects like the ownership, location, and characteristics of these properties, along with privacy considerations and potential benefits to tenants and landlords. This bill also considers how to engage state and local governments in ensuring accurate data collection and aims to produce a report for Congress based on the study's findings. The ultimate goal is to determine the feasibility, cost, and potential advantages of such a registry for better housing management.
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AnalysisAI
General Summary of the Bill
The proposed legislation, titled the "Know Who Owns Your Home Act of 2024," is intended to initiate a comprehensive study into the feasibility of creating a national residential rental registry within the United States. The primary objective is to collect detailed information on both publicly and privately owned residential properties available for rent. The Secretary of Housing and Urban Development is assigned to conduct this study, focusing on various aspects such as property sizes, locations, ownership, financial participation, and utility connections. The relevant findings are to be reported back to Congress within 270 days following the bill's enactment.
Summary of Significant Issues
Several significant concerns have been highlighted concerning this bill. First, the potential costs for establishing and maintaining the national residential rental registry are not specifically quantified, which could lead to unforeseen budget overruns. Moreover, the open-ended authorization of appropriations might result in excessive funding without proper oversight.
Additionally, this bill uses undefined terms or leverages the discretion of the Secretary of Housing and Urban Development to define key terms like "publicly owned residential rental property" and "privately owned residential rental property." This lack of precise definitions could result in ambiguity and inconsistent application, possibly leading to legal disputes.
The need for extensive data collection presents privacy concerns, as the bill involves sensitive personal information of tenants. The bill lacks comprehensive details on how such information will be protected, potentially risking privacy violations.
Finally, the bill is broad in its scope of considerations and recommendations without clear priorities or implementation guidance, potentially complicating its execution.
Impact on the Public Broadly
If successfully implemented, the bill could offer considerable benefits to the general public by ensuring greater transparency and accountability within the rental housing market. A national registry may help tenants make informed decisions when renting a home by providing them with information about property ownership and potential changes in ownership. Additionally, access to detailed rent and ownership data might aid in addressing issues of housing affordability and fairness in the rental market.
On the other hand, the bill's ambitious scope might encounter challenges in practical implementation, especially if the financial burden becomes overwhelming or if privacy issues are not adequately addressed. This could lead to delayed execution or ineffective outcomes, ultimately limiting its intended benefits.
Impact on Specific Stakeholders
For tenants, the potential benefits of the bill include increased access to important property information, which may foster informed decision-making and possibly enhance their housing experience. However, tenants may face privacy concerns if sufficient safeguards are not implemented to protect their personal data.
Property owners might be divided in their reception of the bill. Larger corporations could welcome the registry if it offers a streamlined and standardized system for managing property data. However, smaller landlords may find the requirements burdensome, particularly if the registry involves complex data gathering and reporting processes, potentially leading to increased operational costs.
For government agencies and housing authorities, the development of such a registry represents an opportunity to centralize and streamline housing-related data, potentially improving efficiencies and policy-making. Nonetheless, they must ensure effective coordination, funding, and adherence to privacy standards in order to manage and maintain the registry successfully.
In summary, while the "Know Who Owns Your Home Act of 2024" presents a promising approach to enhancing transparency in the rental market, critical issues regarding costs, definitions, privacy, and implementation remain to be addressed for it to achieve its full potential.
Issues
The potential cost of establishing and maintaining the national residential rental registry is not quantified in Section 2, which might lead to unexpected budget overruns or wasteful spending. Additionally, the authorization of appropriations as 'such sums as may be necessary' without specific limits or oversight could result in indefinite or excessive funding.
In Section 2, the language used in defining 'publicly owned residential rental property' and 'privately owned residential rental property' relies on the Secretary's discretion, which could lead to ambiguity or inconsistent application. This lack of clarity could impact stakeholders and lead to legal disputes.
The term 'large investor' is not clearly defined in Section 2 and relies on the Secretary's discretion, creating uncertainty for stakeholders. This could lead to ambiguities in implementation and enforcement of the bill's provisions.
The registry proposed in Section 2 requires extensive data collection, which raises privacy concerns, especially regarding tenant information and personal data. The methods for protecting personally identifiable information and ensuring compliance with privacy laws are not sufficiently detailed.
The lack of clear language regarding data validity and penalties for non-compliance in Section 2 could lead to inconsistent enforcement of the registry's requirements. This could undermine the effectiveness of the registry and result in noncompliance by landlords and other stakeholders.
Section 2 involves a wide array of considerations and recommendations without clear priorities or guidance on implementation, potentially complicating execution and affecting the efficacy of the bill. This lack of focus may lead to difficulties in carrying out the bill's objectives.
Sections
Sections are presented as they are annotated in the original legislative text. Any missing headers, numbers, or non-consecutive order is due to the original text.
1. Short title Read Opens in new tab
Summary AI
The first section of the bill gives it the official name: "Know Who Owns Your Home Act of 2024."
2. Study and Report of National Residential Rental Registry Read Opens in new tab
Summary AI
The section outlines a plan for the Secretary of Housing and Urban Development to study the creation of a national residential rental registry for properties, both publicly and privately owned. This study would consider factors like property details, ownership, financial assistance, regulatory impacts, and the feasibility, costs, and benefits of establishing such a registry, with a report due to Congress within 270 days.