DEPOSIT Act

This bill provides financial assistance to help low-income renters cover security deposits and moving costs. It directly affects families using housing choice vouchers (Section 8) and those receiving housing assistance through the HOME program. The law requires public housing agencies to use federal funds to pay for reasonable security deposits and moving expenses, and mandates that unused funds be returned to the agency for future use. It also directs the Department of Housing and Urban Development to study alternatives to traditional security deposits and report findings to Congress within 180 days.