Relating to prohibiting an increase in the rent of a tenant residing in a development supported with a low income housing tax credit allocation.

HB 438 prohibits landlords from increasing rent for tenants living in residential developments funded by low-income housing tax credits. It directly affects renters in these specific properties, which are designed to provide affordable housing for low-income households. The bill prevents rent hikes in these developments, ensuring existing tenants’ housing costs remain stable. This applies only to properties receiving tax credit allocations under the state’s low-income housing program.