AN ACT RELATING TO PROPERTY -- RESIDENTIAL LANDLORD AND TENANT ACT

HB 7130 modifies the Residential Landlord and Tenant Act by allowing tenants to pay an increased security deposit in monthly installments over 12 months instead of paying the full amount upfront. This provision directly affects residential tenants in rental properties where landlords seek to raise security deposits. The key mechanism is the structured payment plan, replacing a single lump-sum requirement with smaller, manageable monthly payments. The bill focuses on easing financial burdens for tenants facing higher deposit demands without altering the deposit amount itself.