Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

I move amendment No. 1 to amendment No. 55:

To delete the proposed amendment no. 55 and substitute the following:“Amendment of section 19 (setting of rent above market rent prohibited) of Act of 2004

32. Section 19 of the Act of 2004 is amended by the insertion of the following subsections after subsection (2):

“(3) The setting of rent under the tenancy of a dwelling that is carried out on or after the relevant date shall be subject to subsections (4) to (7).

(4) Subject to subsection (5), in setting, at any particular time, the rent under a tenancy of a dwelling in a rent pressure zone, an amount of rent shall not be provided for that is greater than the amount determined by the formula—

R x (1 + c x t/12)

Where—

R is the amount of rent last set under a tenancy for the dwelling,

c is the consumer price index in the given year,

t is the number of months between—

(a) (i) the date the current rent came into effect under a tenancy for the dwelling not being more than twelve months, or

(ii) where paragraph (a) does not apply but the dwelling was previously let, the date rent became payable under a tenancy for the dwelling as last so let,

and

(b) the date the rent for the tenancy of the dwelling will come into effect after its determination under this subsection.”.”.

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