The bill amends the "Residential Landlord and Tenant Act" by adding provisions regarding rental agreements and security deposits. It allows tenants to pay the last month's rent or any other prepaid rent. Additionally, it increases the maximum allowable security deposit from one month to two months of periodic rent. Upon termination of tenancy, landlords are required to return the security deposit minus any justified deductions for unpaid rent or damages, with a written notice provided within twenty days. The act will take effect upon passage.