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S 119

No Retaining Every Gun In a System That Restricts Your Rights Act

119th Congress Introduced by Bill Cassidy and 11 co-sponsors

Bill S 119 requires LLCs to file detailed rent registration statements, enhancing transparency for tenants and ensuring accountability in the rental market.

Introduced in Senate
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WeVote Research Nonpartisan
Bill Summary · S 119

Summary of Bill S 119: Rent Registration Statements by Limited Liability Companies

Bill Overview

  • Bill Number: S 119
  • Title: Relates to rent registration statements filed by a limited liability company
  • Status: Referred to Codes
  • Introduced: January 08, 2025
  • Classification: Bill

Purpose and Intent

The primary purpose of Bill S 119 is to establish clear guidelines and requirements for rent registration statements specifically filed by limited liability companies (LLCs) in the housing sector. This legislation aims to enhance transparency and accountability in the rental market, particularly concerning properties owned by LLCs, which have become increasingly common in real estate transactions.

Key Provisions

  • Rent Registration Requirements: The bill mandates that LLCs must file detailed rent registration statements that disclose specific information about rental properties they own. This includes:

    • The names of the members of the LLC.
    • The address of the rental property.
    • The amount of rent charged for each unit.
    • Any other information deemed necessary by the housing authority.

  • Enforcement Mechanisms: The bill outlines penalties for non-compliance with the registration requirements, ensuring that LLCs adhere to the new regulations.

  • Public Access to Information: The legislation aims to make the filed rent registration statements accessible to the public, thereby allowing tenants and prospective renters to make informed decisions.

Who Would Be Affected

  • Limited Liability Companies (LLCs): The bill directly impacts LLCs that own rental properties, requiring them to comply with new registration protocols.
  • Tenants and Prospective Renters: By increasing transparency, tenants and potential renters will benefit from better access to information regarding rental properties, which may influence their rental decisions.
  • Housing Authorities: Local housing authorities will be responsible for overseeing compliance and managing the public access to the registration information.

Legislative Timeline

  • January 08, 2025: Bill introduced and referred to the Housing, Construction and Community Development Committee.
  • January 27, 2025: First report calendar.
  • January 28, 2025: Second report calendar.
  • February 03, 2025: Advanced to third reading.
  • May 28, 2025: Passed in the Senate and delivered to the Assembly, where it was subsequently referred to the Codes Committee.

Related Legislation

  • S 6691: A related bill from the prior session that may address similar issues in the rental market.
  • A 1506: A companion bill in the Assembly that aligns with the objectives of S 119.

Conclusion

Bill S 119 represents a significant step towards increasing accountability and transparency in the rental market, particularly for properties owned by limited liability companies. By establishing clear registration requirements and public access to information, the bill aims to empower tenants and enhance the overall integrity of the housing sector.

Compiled from official sources — confirm details with the bill’s official record.

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