Establishes limits on residential rent increases during lease renewal

HB 2996, the "Missouri Housing Predictability and Transparency Act," would limit rent increases for tenants renewing residential leases after January 1, 2027. Landlords could raise rent by no more than 7% plus the U.S. inflation rate (CPI) or 10% - whichever is lower - within a year, and must provide tenants 90 days' written notice detailing the new rent, percentage change, and the tenant's right to request proof. The bill excludes new construction (first 15 years), major renovations (25%+ investment), subsidized nonprofit housing, and tenants behind on rent. Tenants could sue for violations, seeking damages, legal fees, and penalties up to three times the illegal rent increase.