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Legislation


2003 Regular Session

SENATE BILL 57

File Code: Real Property
Sponsored By:
Senator Munson
Entitled:
Real Property - Residential Leases - Interest on Security Deposits

Synopsis:

Changing the interest rate paid on a security deposit under a residential lease from 4 percent per annum to the rate paid by the financial institution holding the deposit; allowing for 0.25% administrative expenses to be retained by the landlord; and applying the Act prospectively.

History by Legislative Date

Senate Action
1/17
First Reading Judicial Proceedings
Hearing 1/30 at 1:00 p.m.
1/23
Hearing cancelled
Hearing 2/4 at 1:00 p.m.
2/10
Unfavorable Report by Judicial Proceedings
House Action
No Action
Bill indexed under the following Subjects:
EVICTION
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: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered
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