This bill, HB 1336-FN, introduces a new legal framework for "regulated conditional deposits" in rental agreements, amending RSA 540-A by adding section 540-A:9. This section allows landlords to accept these deposits from tenants who do not meet certain approval criteria, such as having a low credit score, high income relative to federal poverty guidelines, or prior eviction proceedings. The bill clarifies that these deposits can be accepted in installments and may be included as part of the security deposit. Additionally, it requires landlords to provide written notice to applicants explaining the reasons for the deposit requirement and their right to request a re-screening, with specific guidelines for the notice's clarity and font size.

Furthermore, the bill amends RSA 540-A:6, I(a) to state that landlords cannot demand security deposits exceeding one month's rent, except as outlined in the new section and RSA 540-A:5, V. It establishes a 30-day timeframe for landlords to return security deposits after tenancy termination, detailing any deductions for damages, and includes provisions for third-party contributions. The bill also mandates quarterly reporting by the administrative office of the courts on eviction-related actions and imposes penalties for landlords who fail to comply with the new regulations. The act is set to take effect on January 1, 2027, with an indeterminable fiscal impact on the judicial and correctional systems.

Statutes affected:
Introduced: 540-A:6
As Amended by the House: 540-A:8, 540-A:7, 540-A:5
As Amended by the Senate: 540-A:8, 540-A:7, 540-A:5
Version adopted by both bodies: 540-A:8, 540-A:7, 540-A:5
HB1336 text: 540-A:6