IL HB5314

Amends the Security Deposit Return Act to allow lessors to deliver itemized damage statements to lessees via electronic mail in addition to in-person delivery or mail to their last known address.

Requires lessors of residential properties with 5 or more units to provide itemized damage statements within 30 days of lease termination, including estimated or actual repair costs and paid receipts.

If estimated costs are provided, lessors must furnish paid receipts or copies within 30 days of providing the cost statement.

Requires full return of security deposits within 45 days if lessor fails to provide required itemized statement and receipts.

Establishes penalty of twice the security deposit amount plus court costs and attorney's fees if lessor refuses to supply the itemized statement or supplies it in bad faith and fails to return the deposit within required timeframes.