,i #aaith ,,congress #b;d ,session ,h4 ,r4 #hijc ,,in ,,the ,,house ,,of ,,representatives ,may #ai1 #bjbf,ms4 ,pressley introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to require the ,secretary of ,housing and ,urban ,development to establish a renter outreach resource1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,renter ,resource ,center ,act4 #b4 ,renter outreach resource established 7a7 ,in general ,the ,secretary of ,housing and ,urban ,development shall1 not later than #ahj days after the date of the enactment of this ,act1 establish a renter outreach resource that consists of a toll-free telephone number and a public website designed to assist renters of residential properties owned by a covered large institutional investor in-- 7#a7 notifying ,federal agencies about disputes relating to the rental of such properties1 including-- 7,a7 disputes about potential violations of ,federal law2 7,b7 disputes about potential violations of ,state law2 and 7,c7 other disputed renter matters2 7#b7 sharing information about such disputes with other ,federal agencies1 including other ,federal agencies that manage similar disputes2 7#c7 monitoring such disputes2 and 7#d7 resolving such disputes1 to the extent practicable4 7b7 ,response to outreach 7#a7 ,in general ,the ,secretary shall establish reasonable procedures to-- 7,a7 promptly respond1 in writing where appropriate1 to a renter who provides information to the ,secretary about a dispute using the renter outreach resource established under subsection 7a72 and 7,b7 document such responses4 7#b7 ,contents ,responses provided under paragraph 7#a7 shall include1 where appropriate1 information about-- 7,a7 steps that have been taken by the ,secretary or another ,federal agency in response to the information about the dispute provided by the renter1 including determining the appropriate covered large institutional investor involved as described in subsection 7c72 7,b7 any responses received by the ,secretary or another ,federal agency from the covered large institutional investor related to such dispute2 and 7,c7 any outcome of the dispute1 to the extent practicable4 7c7 ,investigation of potential violations of ,federal law 7#a7 ,in general ,the ,secretary shall promptly process and investigate any information relating to a dispute received through the renter outreach resource established under subsection 7a7 about a potential violation of ,federal law that is received from a renter of a residential property owned by a covered large institutional investor through the renter outreach resource established under subsection 7a71 including by sharing information about such potential violation of ,federal law with any relevant ,federal agencies1 as the ,secretary may determine appropriate1 and by determining the appropriate covered large institutional investor involved as needed4 7#b7 ,responses to requests for information ,a covered large institutional investor may respond to any request for information made pursuant to paragraph 7#a7 and may include in such response whether such covered large institutional investor owns the property described in such request for information4 7d7 ,information for appropriate ,state authority ,when the ,secretary receives information about a potential violation of ,state law or about a dispute received through the renter outreach resource1 from a renter of a residential property owned by a covered large institutional investor through the renter outreach resource established under subsection 7a71 the ,secretary shall1 at a minimum1 provide the renter with contact information for the appropriate1 ,state-specific1 ,state authority authorized to process and investigate such information4 7e7 ,notice about renter outreach resource ,each covered large institutional investor shall-- 7#a7 provide to each renter of a residential property owned by such investor at the time such renter first occupies such home and annually thereafter-- 7,a7 written notice about the renter outreach resource established under subsection 7a72 and 7,b7 the name1 phone number1 and email address of the person or entity responsible for receiving and addressing renter disputes for the covered large institutional investor1 and update the name1 phone number1 and email address within #cj days if such information changes prior to the subsequent time at which such notice is required to be provided2 and 7#b7 prominently feature information about the renter outreach resource established under subsection 7a7 on a public website of such investor that is accessible by such renter4 7f7 ,annual report to the ,congress 7#a7 ,in general ,the ,secretary shall1 not later than ,march #ca of each year1 submit to the ,congress a public report which analyzes and aggregates the information received or obtained pursuant to this ,act during the prior year that includes-- 7,a7 information about the types and the number of disputes received about potential violations of ,federal law2 7,b7 information about the types and the number of disputes received about potential violations of ,state law2 7,c7 information about the types and the number of disputes received about other disputed renter matters2 7,d7 where practicable1 information about the resolution of such disputes2 and 7,e7 information provided to the ,secretary of ,housing and ,urban ,development under subsection 7h74 7#b7 ,anonymization of data ,any data included in a report that is submitted under this paragraph shall be aggregated or anonymized so as to protect any individual dispute or personally identifiable information received through the renter outreach resource4 7g7 ,protection of personal information ,in complying with the requirements of this ,act1 the ,secretary shall take such measures as the ,secretary determines are necessary to provide for the protection of personally identifiable information received through the renter outreach resource in a manner that conforms with existing standards for protection of the confidentiality of personally identifiable information4 7h7 ,annual notification ,an owner of a residential property owned by a covered large institutional investor1 as such term is defined in subsection 7i7 shall1 beginning in calendar year #bjbf-- 7#a7 notify the ,secretary each year1 before ,december #cast whether such owner remains a covered large institutional investor as defined in subsection 7i72 and 7#b7 in such notification1 identify how many covered single-family homes such covered large institutional investor has direct or indirect investment control of as of the date of the submission of such notice1 and the city and ,state where each such covered single-family home is located1 unless such covered large institutional investor owns #aj or fewer covered single-family homes in such city4 7i7 ,definitions ,in this section3 7#b7 ,covered large institutional investor 7,a7 ,in general ,the term covered large institutional investor-- 7i7 means an investment fund1 corporation1 general or limited partnership1 limited liability company1 joint venture1 association1 or other for-profit entity that is a legal entity structured in a manner that is not aforementioned that-- 7,i7 is engaged1 in whole or in part1 in the business of investing in1 owning1 renting1 or holding covered single-family homes2 and 7,,ii7 alone or in concert with #a or more other entities1 beginning after the date of enactment of this ,act1 has direct or indirect investment control of not less than #cej covered single-family homes in the aggregate1 not including any covered single-family home purchased in an excepted purchase made after the date of enactment of this ,act2 and 7ii7 does not include-- 7,i7 any local1 ,state1 ,tribal1 or ,federal ,government entity or instrumentality thereof2 7,,ii7 a nonprofit organization described in section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf that is exempt from taxation under section #eja7;a7 of the ,internal ,revenue ,code2 or 7,,iii7 a community land trust as such term is defined in section #ajd of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #abgjd71 as amended by this ,act4 7,b7 ,investment control 7i7 ,in general ,for purposes of this paragraph1 an entity has direct or indirect investment control over a covered single-family home if the entity-- 7,i7 owns1 or has primary authority or fiduciary responsibility to make material investment or management decisions relating to the covered single-family home2 7,,ii7 is or directly or indirectly controls1 the general partner or managing member of the entity that owns the covered single-family home2 7,,iii7 is or controls the investment manager1 management company1 or investment advisor of the entity that owns the covered single-family home2 7,,iv7 owns or controls more than #be percent of any class of equity interests of the entity that owns the covered single-family home1 unless such entity is a passive investor2 or 7,v7 otherwise controls the entity that owns the covered single-family home4 7ii7 ,passive investment ,for purposes of this paragraph1 an entity shall be considered a passive investor if such entity does not satisfy subclauses 7,i71 7,,ii71 and 7,,iii7 of clause 7i74 7,c7 ,rule of construction 7i7 ,in general ,nothing in this ,act shall be construed to establish that an entity has direct or indirect investment control over a covered single-family home solely by virtue of-- 7,i7 such entity's entry into1 or performance under1 a third-party contract for the property management of a covered single-family home1 including tasks related to maintenance of the home and the selection of tenants1 provided that such entity does not have direct or indirect investment control over such a covered single-family home2 or 7,,ii7 owning a fractional interest of a covered large institutional investor4 7#c7 ,covered single-family home ,the term covered single-family home-- 7,a7 means a property that contains #b or fewer dwelling units that are each intended for residential occupancy by a single household2 and 7,b7 does not include-- 7i7 a manufactured home1 as defined in section #fjc of the ,national ,manufactured ,housing ,construction and ,safety ,standards ,act of #aigd 7#db ,u4,s4,c4 #edjb72 7ii7 a property that1 when occupied1 has always been occupied by a renter2 7iii7 a property that1 when occupied1 is rented to a member of a regular component of the ,armed ,forces or a member of the ,national ,guard on full-time ,national ,guard duty1 active ,guard and ,reserve duty1 or inactive-duty training 7as those terms are defined in section #aja of title #aj1 ,united ,states ,code7 who has received-- 7,i7 temporary duty orders to deploy with a military unit or military orders to deploy as an individual acting in support of a military operation for a period of not less than #ij days2 or 7,,ii7 orders for a permanent change of station2 7iv7 a property owned by its owner for less than #cfe days1 other than a covered single-family home purchased pursuant to paragraph 7#d77;,f72 7v7 a property that is made up of multiple rental homes or units constructed on a single parcel of property that cannot legally be sold as individual homes or units without further subdividing the property2 7vi7 a property that is actively under a first-look period for owner-occupants or ,,hud-approved affordable housing nonprofits for a period of not less than #cj days2 or 7vii7 a property that is designed and intended to be occupied or leased by the bedroom or in which individual bedrooms are intended for occupancy by separate1 unrelated persons under separate lease or occupancy agreements4 7#d7 ,excepted purchase ,the term excepted purchase means any purchase of a covered single-family home that is-- 7,a7 or will be newly constructed1 renovated for sale1 or a rental conversion for sale by an owner and not as a residence rented pending sale2 7,b7 pursuant to a build-to-rent program where an owner purchases1 constructs1 or constructs and retains a newly constructed covered single-family home to be managed as a rental property1 whether as part of a community made up exclusively of renter-occupied single-family homes or as part of a community made up of single-family homes that are both owner- and renter-occupied2 7,c7 pursuant to a renovate-to-rent program that substantially rehabilitates a covered single-family home that does not meet-- 7i7 structural or core system elements of local building codes2 or 7ii7 minimum property standards required for conventional mortgage financing2 7,d7 pursuant to a home-ownership program that-- 7i7 requires rental payments and any other fees that are not greater than those collected by the covered large institutional investor on other similarly situated covered single-family homes not covered by the eligible home-ownership program2 7ii7 provides for positive reporting of rental payments to consumer reporting agencies for any renter1 who shall be informed of and opts into such reporting2 7iii7 provides for a right of first refusal and a #fj-;day first-look period for the current renter in instances where the covered single-family home is offered for sale to another owner2 and 7iv7 requires contribution of meaningful financial support from the covered large institutional investor1 including price concessions1 for the purchase of a covered single-family home by the renter1 whether for the home the renter is occupying or another home2 7,e7 in connection with the satisfaction of debts previously contracted in good faith and where the owner has the right to repossess the covered single-family home under such contract2 7,f7 undertaken by a mortgage servicer1 lender1 or other entity that has a legal right to purchase or otherwise acquire a covered single-family home1 for the purpose of loss mitigation or compliance with servicing or investor obligations1 and not as a long-term investment strategy1 and is solely as a result of-- 7i7 a foreclosure2 7ii7 a deed in lieu of foreclosure2 7iii7 enforcement of a mortgage1 deed of trust1 or other security interest2 or 7iv7 operation of law following borrower default1 provided that for federally backed mortgage loans as defined in section #djbb7;a7 of the ,,cares ,act 7#ae ,u4,s4,c4 #ijef7;a771 including such loans that are sold to a third party1 when the foreclosed property purchased under this provision is offered for sale1 the mortgage servicer1 lender1 or other entity provides a #cj-;day first-look period to an owner-occupant or to an affordable housing nonprofit approved by the relevant ,federal agency2 7,g7 purchased from a covered large institutional investor that either owned the covered single-family home on the date of enactment of this ,act or purchased the covered single-family home through an exempted purchase2 7,h7 intended and operated for occupancy as part of a community for households with #a or more members aged #ee years or older1 and to the extent required by law1 satisfies visitability standards established by the ,secretary of ,housing and ,urban ,development2 7,i7 intended to and will be after the purchase operated as a facility-- 7i7 used to provide residential care to individuals with disabilities 7as such term is defined in section #c of the ,americans with ,disabilities ,act of #aiij 7#db ,u4,s4,c4 #abajb77 or developmental disabilities 7as such term is defined in section #ajb of the ,developmental ,disabilities ,assistance and ,bill of ,rights ,act of #bjjj 7#db ,u4,s4,c4 #aejjb772 and 7ii7 that connects such individuals with community-based services that are approved by ,medicaid or ,medicare2 7,j7 acquired as a part of a community of #e or more contiguous rental units2 7,k7 planned1 permitted1 financed1 and constructed as a part of a single unified rental community on a single platted parcel1 where a owner or an affiliate thereof owns or controls the land and manages the community as a single rental facility1 and the individual structures within the community are not offered or intended for individual sale to separate purchasers2 7,l7 purchased with support from any program described in section #db of the ,internal ,revenue ,code of #aihf1 or any other affordable housing program in which the rent of supported units is restricted2 or 7,m7 executed through a combination or series of purchases described in subparagraphs 7,a7 through 7,l74 7#e7 ,first-look period ,the term first-look period means the specified period of time commencing on the first day on which a property is made available for sale during which it is exclusively made available for purchase only to the entities specified4 7#f7 ,purchase ,the term purchase includes any purchase1 transfer1 or other acquisition of a covered single-family home1 including through mergers1 acquisitions1 foreclosures1 or bulk purchases1 whether or not for cash consideration4 7#g7 ,secretary ,the term ,secretary means the ,secretary of ,housing and ,urban ,development4 7#h7 ,state ,the term ,state means each of the #ej several ,states of the ,united ,states1 the ,district of ,columbia1 or the ,commonwealth of ,puerto ,rico4