2005 Regular Session

HOUSE BILL 744

File Code: Real Property
Sponsored By:
Delegate Bates
Entitled:
Real Property - Residential Leases - Interest on Security Deposits

Synopsis:

Altering, from 3 percent to the Federal Reserve discount rate as of January 1, the annual interest rate paid on a security deposit under a residential lease after the end of a tenancy; altering, from 3 percent to the lesser of 3 percent or the Federal Reserve discount rate as of January 1, the annual interest rate paid on a security deposit prior to the termination of a tenancy; and altering, from 6 months to 12 months, the interval at which interest accrues on a security deposit under a residential lease.

History by Legislative Date

House Action
2/9
First Reading Environmental Matters
2/8
Hearing 2/24 at 1:00 p.m.
2/9
Hearing cancelled
Hearing 2/24 at 1:30 p.m.
3/21
Unfavorable Report by Environmental Matters
Senate Action
No Action

Bill indexed under the following Subjects:

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

Bill affects the following Statutes:

Real Property
( 8-203 , 8-203 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments: None offered