STATEMENT TO

SENATE, No. 422

with Senate Floor Amendments

(Proposed by Senator TURNER)

ADOPTED: NOVEMBER 16, 2020

      These Senate Floor Amendments would accomplish the following:

· Define “administrative agent” as the entity responsible for administering the affordability controls with respect to specific restricted units;

· Provide that no more than 180 days, and no less than 90 days prior to the expiration of the affordability controls of a restricted rental unit, the administrative agent would be required to conduct an income certification for the household occupying the unit in order to determine the appropriate course of action regarding rent increases on the unit;

· Provide that as long as the household occupying a restricted rental unit continues to reside in the unit following affordability control expiration, and continues to earn a gross annual income of not more than 80 percent of the regional median income, the administrative agent would be required to conduct an additional income certification on an annual or biennial basis until the household is found to earn a gross annual income in excess of 80 percent of the regional median income, at which time the rent restriction could be lifted; and

· Clarify a landlord’s responsibilities regarding notifying tenants of approaching expirations of affordability controls on restricted rental units.