A U.S. representative is proposing a bill that could cancel all rent and mortgage payments through the duration of the coronavirus pandemic.
The “Rent and Mortgage Cancellation Act of 2020” is being proposed by Minnesota’s Democratic Rep. Ilhan Omar.
According to Omar’s office, the bill would constitute full payment forgiveness for renters or homeowners.
During the COVID-19 suspension, tenants and residents will also not accumulate debt, face additional fees, penalties or interests, or have their credit scores or rental history negatively impacted due to nonpayment, the proposed bill states.
The act also establishes a landlord relief fund that would reimburse losses from the canceled payments.
Click here to read the full proposed bill.