Amends and adds to existing law to provide for monopsonies and to establish provisions regarding the prohibition of pricing algorithms.

This legislation does not require the expenditure of funds at the state or local level of government, and does not create, repeal, or amend any state taxes or fees. Consequently, it would have no fiscal impact on the General Fund or any other state fund. Enforcement is at the Attorney General’s prosecutorial discretion. 52% of renters in the Boise and Coeur d’Alene markets are house burdened, meaning they spend more than 30% of their income on rent. This is up from 44% in 2021. Rental rates have increased three times faster than inflation in these markets, despite some of the biggest years for new multifamily rental construction. It is estimated that rental price fixing has inflated rents by roughly $105/unit across the roughly 50,000 apartments in the Boise and Coeur d’Alene markets, resulting in over $63 million of excess fees paid by Idaho renters in 2024 alone.

SOP revised: 02/11/2025, 11:46 AM