Senate Bill 1326

    Florida Senate - 1998                                  SB 1326

    By Senator Rossin





    35-1330-98                                              See HB

  1                      A bill to be entitled

  2         An act relating to security deposits; amending

  3         s. 83.49, F.S.; providing that certain security

  4         deposits must be placed in interest-bearing

  5         accounts; providing for the deposit of interest

  6         into the State Housing Trust Fund; providing

  7         for the use of such funds; providing an

  8         effective date.

  9

10  Be It Enacted by the Legislature of the State of Florida:

11

12         Section 1.  Subsection (10) is added to section 83.49,

13  Florida Statutes, to read:

14         83.49  Deposit money or advance rent; duty of landlord

15  and tenant.--

16         (10)  Whenever money is deposited or advanced by a

17  tenant on a rental agreement as security for the performance

18  of the rental agreement or as advance rent for other than the

19  next immediate rental period for a lease agreement in a rental

20  project which has benefited from any of the housing programs

21  administered by the State of Florida or its assigns, the money

22  deposited or advanced shall be placed in an interest-bearing

23  account in a Florida banking institution for the benefit of

24  the tenant or tenants.  The entire amount of the interest

25  generated from the interest-bearing account shall be

26  accumulated and annually deposited by the landlord into the

27  State Housing Trust Fund as created in s. 420.0005 for

28  distribution by the Department of Community Affairs for

29  housing programs administered by the state.

30         Section 2.  This act shall take effect upon becoming a

31  law.

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 1998                                  SB 1326
    35-1330-98                                              See HB




  1            *****************************************

  2                          HOUSE SUMMARY

  3
      Provides that whenever money is deposited by a tenant as
  4    security for a lease agreement in a rental project which
      has benefited from any of the housing programs
  5    administered by the State of Florida, the deposit must be
      deposited in an interest-bearing account and the entire
  6    interest shall be accumulated and annually deposited by
      the landlord into the State Housing Trust Fund to be used
  7    by the Department of Community Affairs for housing
      programs administered by the state.
  8

  9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

                                  2