2013 Regular Session



Real Property - Residential Leases - Interest on Security Deposits

Sponsored by:

Senator Peters


In the Senate - Unfavorable Report by Judicial Proceedings

Synopsis:Changing the interest rate paid on a security deposit at the end of a tenancy under a residential lease or by a mobile home park owner and when an evicted or ejected tenant makes a timely written demand for return of the security deposit from 3% per annum to the daily U.S. Treasury yield curve rate for 1 year, as of the first business day of each year, or 1.5%, whichever is greater; requiring the Department of Housing and Community Development to maintain on its Web site a specified list or calculator; applying the Act prospectively; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Peters, Brochin, Colburn, DeGrange, Getty, Kittleman, Manno, Muse, Raskin, Shank, Stone, and Zirkin
Additional Facts:Cross-filed with: HB0045
Introduced in a prior session as: SB0361 Session: 2012 Regular Session
Bill File Type: Regular
Effective Date(s): January 1, 2014
Judicial Proceedings  Listen to Committee Hearing
Broad Subject(s):Real Property
Narrow Subject(s):Electronic Government
Housing and Community Development, Department of
Landlord and Tenant -see also- Eviction; Leases & Rent; etc.
Leases and Rent
Mobile and Manufactured Homes
Security Deposits
Statutes:Article - Real Property
(8-203, 8A-1001)

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October 24, 2017 1:08 P.M.