SENATE BILL 863

File Code: Real Property Crossfiled with: HOUSE BILL 546

Sponsored By:

Senator Schrader

Entitled:

Real Property - Residential Leases - Interest on Security Deposits

Synopsis:

Altering the interest rate paid on a security deposit under a residential lease; requiring the interest rate for a tenancy of 6 months or more to be the Federal Reserve discount rate as of January 1 of each year; requiring a security deposit for a tenancy of less than 6 months to be returned without interest, less any damages rightfully withheld; and providing for the application of the Act.

History by Legislative Date

Senate Action

2/23

First Reading Senate Rules

2/27

Re-referred Judicial Proceedings

3/17

Withdrawn

House Action

No Action

Bill indexed under the following Subjects:

INTEREST

LANDLORD AND TENANT -see also- EVICTION; LEASES & RENT; etc.

SECURITY DEPOSITS

Bill affects the following Statutes:

Real Property

( 8-203 , 8-203 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered