§ 6–214.01. Public housing credit-building pilot program.
(a) The Authority shall establish and implement a pilot program ("program") in one or more of its public housing developments for reporting the rent payments of residents to one or more consumer credit bureaus.
(b)(1) The program shall run for 21 months, with a 6-month planning period, a 12-month implementation period, and a 3-month assessment period.
(2) During the 6-month planning period following October 1, 2019, the Authority shall establish the parameters of the program and designate one or more properties owned by the Authority to participate in the program.
(3) During the 12-month implementation period, the Authority shall:
(A) Allow residents residing in designated properties to opt in or out of the program;
(B) Promptly and accurately report the timing of each participating resident's monthly rent payment to at least one consumer credit bureau during each month that the resident participates; and
(C) Collect data necessary to prepare the report to the Council required under paragraph (4) of this subsection.
(4) No later than 3 months after completion of the 12-month implementation period, the Authority shall submit to the Council a report on the program, which shall include the following information:
(A) The number of residents who opted to participate in the program at each designated property;
(B) The number of months in which the average resident at each property participated in the program;
(C) The change in credit score for the average participating resident at each property;
(D) The results of a survey of program participants gauging their satisfaction with the program and whether they believe it should continue or be expanded;
(E) A detailed accounting of the expenses incurred by the Authority to implement the program; and
(F) Recommendations of the Authority, including whether the program should be continued or expanded, and what, if any, modifications should be made.
(c) The Authority shall provide educational materials to residents at participating properties regarding the risks and benefits of program participation and the rights and responsibilities of residents who opt to participate in the program.