The bill amends Section 34-18-19 of the Residential Landlord and Tenant Act to establish new regulations regarding security deposits. It allows a tenant to pay a prorated amount of the difference between the previous security deposit and any increased security deposit over a twelve-month period if a landlord increases the existing tenant's rent and subsequently increases the security deposit. The act is set to take effect upon passage.

Statutes affected:
5127: 34-18-19