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Bill > S2973
RI S2973
RI S2973Provides that landlords would pay interest on security deposits in residential landlord-tenant matters.
summary
Introduced
03/04/2026
03/04/2026
In Committee
03/04/2026
03/04/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
This act would require that residential landlords of six (6) or more dwelling units hold their tenants' security deposits in interest-bearing federally insured deposit accounts minus written accounting deducting allowable amounts due to the landlord and, within twenty (20) days of the end of the tenancy, any remaining interest accrued shall be paid to the tenant. This act would take effect upon passage.
AI Summary
This bill requires residential landlords who own six or more dwelling units to hold tenants' security deposits in interest-bearing, federally insured accounts, with the accrued interest belonging to the tenant. Upon the end of the tenancy, landlords must provide an itemized written accounting of any deductions for unpaid rent, cleaning, trash disposal, or damages beyond normal wear and tear, and return the remaining security deposit along with all accrued interest within twenty days of the tenant vacating the property. This change aims to ensure tenants receive the interest earned on their security deposits, with the act taking effect immediately upon its passage.
Committee Categories
Justice
Sponsors (5)
Last Action
Introduced, referred to Senate Judiciary (on 03/04/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://status.rilegislature.gov/ |
| BillText | https://webserver.rilegislature.gov/BillText26/SenateText26/S2973.pdf |
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