IL HB5600

Reduces the timeframe for lessors to return security deposits from 45 days to 14 days after the lessee vacates the premises.

Reduces the timeframe for lessors to provide an itemized statement of damage from 30 days to 14 days of the date the lessee vacated.

Requires lessors to return any portion of the security deposit not withheld at the time they furnish the damage statement or receipts to the lessee.

Applies to residential real property containing 5 or more units.

Maintains existing penalties of twice the security deposit amount plus court costs and attorney's fees if a lessor refuses to supply the itemized statement or fails to return deposits within the required timeframe.