IL HB4086

Amends the Security Deposit Interest Act to require lessors to pay interest to lessees within 30 days after each 12-month rental period by cash or credit applied to rent due.

Creates an exception allowing lessees to sign an agreement permitting interest to be held in an account with the original security deposit, with interest accruing on the entire balance including the original deposit and previously accrued interest.

Maintains an exception when the lessee is in default under the lease terms, allowing the lessor to withhold interest payment.

Imposes liability on lessors who willfully fail or refuse to pay required interest, requiring payment of an amount equal to the security deposit plus court costs and reasonable attorney fees upon circuit court finding.