Housing Price Transparency Act

The Housing Price Transparency Act aims to increase transparency in the housing rental market by requiring the disclosure of algorithmic pricing. Specifically, any person utilizing a pricing algorithm to recommend or establish monthly rates for rental accommodation must clearly inform consumers that an algorithm was employed. A "pricing algorithm" is defined broadly to include computational processes, including those derived from machine learning or artificial intelligence, used to set prices or commercial terms. Enforcement of this requirement falls primarily to the Federal Trade Commission , treating violations as unfair or deceptive acts or practices under existing law. Additionally, State Attorneys General are authorized to bring civil actions as parens patriae on behalf of their residents to enjoin violations, enforce compliance, and seek damages or restitution. The bill also establishes a private right of action , allowing individuals injured by non-disclosure to seek injunctions, recover actual monetary losses or statutory damages, and be awarded attorney's fees.