HB 25-1004

Abstract

The act prohibits the sale or distribution for consideration of an algorithmic device if: The algorithmic device is sold or distributed with the intent that it will be used by 2 or more landlords in the same market or a related market to set or recommend the amount of rent, level of occupancy, or other commercial term associated with the occupancy of a residential premises; and The device sets or recommends the amount of rent, level of occupancy, or other commercial term associated with the occupancy of a residential premises based on data or a formula that is similar for each landlord. The act also prohibits the use of an algorithmic device by a person to set or recommend the amount of rent, level of occupancy, or other commercial term associated with the occupancy of a residential premises if: The person knew or should have known that another person used the algorithmic device to set or recommend the amount of rent, level of occupancy, or other commercial term associated with the occupancy of a residential premises; and The circumstances suggest that the person adhered to or participated in a scheme to fix the amount of rent, level of occupancy, or other commercial term associated with the occupancy of a residential premises. The act also prohibits a person engaged in the business of providing algorithmic device services or products that are used to set or recommend the amount of rent, level of occupancy, or other commercial term associated with the occupancy of a residential premises from using nonpublic competitor data pertaining to residential properties in Colorado in setting or recommending the amount of rent, level of occupancy, or other commercial term associated with the occupancy of a residential premises for residential properties in Colorado. A violation is deemed to be an illegal restraint of trade or commerce and is punishable in accordance with the "Colorado State Antitrust Act of 2023". VETOED by Governor 5/29/2025(Note: This summary applies to this bill as enacted.)