An act relating to security deposits

H 565 limits security deposits for landlords and mobile home park owners to three months' rent or lot rent, whichever applies. Landlords must hold all security deposits in interest-bearing accounts for tenants' benefit, with accrued interest not counting toward the cap. The bill takes effect July 1, 2026, allowing existing deposits above the limit to remain until that date, but requiring them to be moved into interest-bearing accounts within 30 days after July 1, 2026. It directly affects residential tenants, mobile home leaseholders, and their property owners.