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1997 SESSION

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HB 1634 Residential Landlord and Tenant Act; interest on security deposits.

Introduced by: John H. Tate, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Virginia Residential Landlord and Tenant Act; interest on security deposits. Authorizes to a landlord an option either to pay interest on security deposits at a rate equal to the Federal Reserve Discount Rate (current law) or that paid on a fully liquid, interest-bearing account paying the highest yield. This attempts to ensure that the landlord neither pays more than he actually earns on such deposits nor makes a profit from those deposits.

FULL TEXT

• 01/08/97  House: Presented & ordered printed, prefiled 12/20/96 973013466  pdf

HISTORY

• 01/08/97  House: Presented & ordered printed, prefiled 12/20/96 973013466
• 01/08/97  House: Referred to Committee on General Laws
• 01/10/97  House: Assigned to General Laws sub-committee: 1
• 02/04/97  House: No action taken by General Laws by voice vote