DENVER–A bill that would have allowed local jurisdictions to impose rent control will not pass this legislative session. Senate Bill 19-225 was laid over during Senate floor action until May 5, meaning that it will not have time to be heard by both chambers before the legislative session ends on Friday.
Critics of the bill testified that rent control always has the opposite effect of what is intended. Rather than increasing the availability of affordable and low-income housing it instead reduces housing supplies in all income categories and drives up rents.
In a press release, Colorado Apartment Association President Mark Windhager said, “The demise of Senate Bill 225 is a tremendous victory for hardworking Coloradans who deserve an abundance of affordable housing options. Rent control policies have failed Americans from coast to coast, as they reduce rental housing supply, drive up the cost of existing rents, lead to blighted properties and neighborhoods, and reduce choices and mobility for renters.”
Ryan McMaken, Senior Editor at the non-partisan Mises Institute, a free-market education and research organization said, “Everyone who’s studied it empirically can see that it reduces the number of units actually available. Rent control is anti-poor person.”
Colorado prohibited rent control in 1981. That law forbids local governments from “enacting any resolution or ordinance that would control rent on private residential real property or private residential housing units.”