General Assembly Raised Bill No. 1265 seeks to amend Section 47a-21 of the general statutes concerning security deposits that landlords can require from tenants. The bill introduces a new definition of "security deposit" as any advance rental payment or installment payment collected, excluding the first month's rent or deposits for keys. It clarifies the roles of landlords, tenants, and receivers, establishing that security deposits remain the property of the tenant, with landlords holding a security interest. The bill repeals previous limits on security deposits, allowing landlords to demand more than two months' rent for tenants under sixty-two and more than one month's rent for those sixty-two and older. Additionally, it outlines landlords' responsibilities for returning security deposits, requiring them to return the deposit minus damages within a specified timeframe and mandating that they deposit security deposits into escrow accounts.

The bill also introduces provisions for recipients of assistance under various state programs, requiring them to sign an agreement with the Commissioner of Social Services regarding the handling of their security deposits. It modifies existing legal language by replacing references to subsections (i) and (j) with (h) and (i), respectively, and establishes penalties for landlords who fail to comply with the new regulations. The legislation aims to enhance tenant protections, clarify landlord responsibilities, and streamline processes related to security deposits and small claims. Overall, Raised Bill No. 1265 is designed to improve the rental market dynamics while ensuring that tenants' rights are prioritized.

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