SB 309 - This act states that landlords must keep all security deposits in a depository institution insured by an agency of the federal government, and shall not commingle the security deposits with personal funds. Any interest earned on a security deposit belongs to the landlord.
Currently, if a landlord wrongfully withholds any portion of the security deposit then the tenant can recover as damages not more than twice the amount withheld. This act provides that a tenant shall recover as damages twice the amount wrongfully withheld by the landlord.
Provisions of this act are identical to SB 182 (2015), HB 2283 (2014), and HB 884 (2013).