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CT SB00154
Bill
Status
Introduced
2/18/2016
Primary Sponsor
Housing Committee
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AI Summary
- Transfers decision-making authority for security deposit interest from landlords to tenants, effective October 1, 2016 for new tenancies
- Requires landlords to ask tenants at least one month before the tenancy anniversary whether they want interest paid as cash or credited toward future rent
- Maintains existing interest rate requirements based on the deposit index, with a minimum rate of 1.5 percent annually
- Preserves the 30-day payment deadline for accrued interest when tenancy terminates or deposits are returned early
- Retains the forfeiture of interest for tenants delinquent more than 10 days on rent, except when a late charge is imposed per rental agreement
Legislative Description
An Act Concerning Security Deposits.
Last Action
Public Hearing 02/23
2/19/2016
Committee Referrals
Housing2/18/2016
Full Bill Text
No bill text available