Colorado Governor Vetoes Bill Banning AI-Driven Rent-Setting
Colorado Gov. Jared Polis (D) on Thursday vetoed legislation that would have banned algorithm-driven rent-setting, saying he feared punishing landlords who use rental-related technology legitimately.
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The legislation would have “prohibited the sale, distribution, or use of algorithmic devices using nonpublic and public competitor data to coordinate the setting of price or occupancy levels between two or more landlords.” HB-1004 passed the Senate 22-12 and the House 42-21.
The governor said he agrees that artificially inflating rental prices is illegal, but that’s already covered under the Colorado Antitrust Act. “While I understand the intent of this bill, I have grave concerns about prohibiting companies using algorithmic pricing software derived from multiple data sources from doing business in Colorado.”
Polis said he’s open to supporting a measure next year “that addresses the goals of HB-1004 and makes a distinction between collusive and non-collusive uses of nonpublic competitor data.”