Us Congress 2023-2024 Regular Session

Us Congress House Bill HB8678

Introduced
6/11/24  

Caption

FAIR Costs Act Fair Adjustments for Income-based Rental Costs Act

Impact

The impact of HB8678 on state laws is significant, as it introduces a new framework for rental cost adjustments across the board. Should it pass, the bill will likely amend existing housing regulations to incorporate income-based criteria for rental pricing. This means that landlords would need to consider a tenant's income before making adjustments to rent, creating a more equitable system that acknowledges the financial hardships many renters face. This could lead to increased protections for tenants and encourage a more affordable rental market.

Summary

HB8678, known as the FAIR Costs Act, aims to implement fair adjustments for income-based rental costs, reflecting a growing concern over housing affordability among tenants. The legislation is designed to regulate how rental costs are determined and adjusted based on the income levels of tenants, ensuring that rent remains manageable relative to their earnings. Proponents of the bill argue that by linking rent adjustments to income, the state can help mitigate the financial burden faced by many struggling renters, particularly in urban areas where housing costs have risen sharply in recent years.

Contention

Notable points of contention surrounding HB8678 arise from concerns about its implications for landlords and the rental market. Critics argue that requiring income-based adjustments may discourage investment in rental properties, potentially leading to a decrease in available housing options. Some landlords fear that the legislation could limit their ability to set rents based on the free market, ultimately affecting their financial stability. Supporters argue that the need for affordable housing outweighs these concerns and that fairness in rental costs is essential for a just society.

Companion Bills

No companion bills found.

Previously Filed As

US HB3133

HAVEN Act Housing Accessibility and Voucher Expansion Now Act

US HB7127

FAIR Act Federal Adjustment of Income Rates Act

US SB5067

Disaster Survivors Fairness Act of 2024

US HB5924

Lower Drug Costs Today Act

US HB3516

Opportunities for Fairness in Farming Act of 2025

US HB8491

Coal Royalty Fairness and Communities Investment Act of 2024

US HB4280

Bipartisan Tax Fairness Act of 2025

US HB6375

MARINA Act Maintaining Access to Recreational Industry and Necessary Adjustments Act

US SB3038

American Offshore Worker Fairness Act

US HB1245

Disaster Survivors Fairness Act of 2025

Similar Bills

No similar bills found.