The bill amends Section 34-18-19 of the Residential Landlord and Tenant Act, specifically addressing security deposits. It establishes that if a landlord increases an existing tenant's rent and subsequently increases the existing tenant's security deposit, the tenant may pay a prorated amount of the difference between the previous security deposit held and the new security deposit over a twelve (12) month period. The act is set to take effect upon passage.

Statutes affected:
7130: 34-18-19