AN ACT PROHIBITING RESIDENTIAL RENTAL PROPERTY OWNERS FROM USING PRICING ALGORITHMS AND COMPETITORS' SENSITIVE DATA TO SET RENTAL PRICES.

HB 6497 prohibits residential rental property owners from using competitors' sensitive information or third-party pricing algorithms to set rents without court oversight. Specifically, it bans owners from training pricing models with competitor data, using unsupervised algorithms, or sharing competitive pricing details with other property managers. The bill directly affects landlords and property management companies operating in residential rental markets. It aims to prevent anti-competitive pricing practices by restricting how rental rates are determined. The law requires court-supervised monitoring for any algorithmic pricing used.