LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
200 W. Washington St., Suite 301
Indianapolis, IN 46204
(317) 233-0696
iga.in.gov
FISCAL IMPACT STATEMENT
LS 6338 NOTE PREPARED: Dec 7, 2023
BILL NUMBER: SB 64 BILL AMENDED:
SUBJECT: Housing Matters.
FIRST AUTHOR: Sen. Ford J.D. BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED:XGENERAL IMPACT: State
XDEDICATED
FEDERAL
Summary of Legislation: This bill requires, before November 1, 2024, the Indiana Housing and Community
Development Authority (IHCDA) to prescribe a statement of the rights of a residential tenant in Indiana. It
specifies the contents of the statement. The bill requires the IHCDA to: (1) make the statement available to
residential landlords throughout Indiana; and (2) post the statement on the IHCDA's website. It also requires,
after October 31, 2024, a residential landlord to provide a tenant with the statement at the time the tenant
enters into or renews a rental agreement.
The bill provides that a landlord may not increase the rent payable by a tenant who is at least 62 years of age
in an amount that exceeds 10% of the rent payable under the rental agreement in effect on June 30, 2024, and
for each year thereafter. It specifies that if a tenancy is month to month, a landlord may not increase the rent
payable by a tenant who is at least 62 years of age for a succeeding month in an amount that exceeds: (1)
10%; divided by (2) 12 months; of the amount of rent payable under the rental agreement applicable to the
month to month tenancy on June 30, 2024, and for each month thereafter. This bill also indicates that the
application of the provisions added by the bill concerning rental increases is not affected by a change in the
ownership of the property if the new owner continues to use the property to rent dwelling units.
Effective Date: July 1, 2024.
Explanation of State Expenditures: IHCDA - This bill requires the IHCDA to prescribe a “tenant’s bill of
rights” statement that will be made available to the public by November 1, 2024. This requirement will result
in a temporary increase in the administrative workload for the IHCDA as the agency works to compile the
statement but, overall, is within the agency’s routine administrative functions and should be able to be
implemented with no additional appropriations, assuming near customary agency staffing and resource levels.
SB 64 1 Explanation of State Revenues:
Explanation of Local Expenditures:
Explanation of Local Revenues:
State Agencies Affected: Indiana Housing and Community Development Authority.
Local Agencies Affected:
Information Sources:
Fiscal Analyst: James Johnson, 317-232-9869.
SB 64 2