Raised Bill No. 5154, introduced in the February Session, 2024, and referred to the Committee on Housing, proposes an act to appropriate funds for the Security Deposit Guaranty Program. The bill, if enacted, would allocate a sum of ten million dollars from the General Fund to the Department of Housing for the fiscal year ending June 30, 2025, specifically for the Security Deposit Guaranty Program.

The bill includes a new section that would become effective on July 1, 2024. The language of the bill does not indicate any deletions from the current law but does include the insertion of the new section detailing the effective date and the appropriation of funds. The bill has received a joint favorable committee recommendation from the Housing Committee and the Appropriations Committee.