Real Estate Board; protection of escrow funds by real estate licensee, rental agreement, etc. (HB1736)
Introduced By
Del. Peter Farrell (R-Henrico)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Real Estate Board; protection of escrow funds by real estate licensee; payments made under a rental agreement. Provides that for any landlord-tenant relationship within the purview of the Virginia Residential Landlord and Tenant Act, any prepaid rent paid more than one month prior to the due date and all security deposits paid to a licensed broker in connection with the lease shall be placed in an escrow account by the end of the fifth business banking day following receipt, unless otherwise agreed to in writing by the principals to the lease transaction. The bill provides how long the funds must remain in the escrow account. Additionally, any application deposit paid by a prospective tenant for the purpose of being considered as a tenant for a dwelling unit to a real estate licensee acting on behalf of the landlord shall be placed in escrow by the end of the fifth business banking day following approval of the rental application by the landlord. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/08/2013 | Committee |
01/08/2013 | Prefiled and ordered printed; offered 01/09/13 13101778D |
01/08/2013 | Referred to Committee on General Laws |
01/14/2013 | Assigned GL sub: #1 Housing |
01/23/2013 | Subcommittee recommends reporting with amendment(s) (7-Y 0-N) |
01/24/2013 | Impact statement from DPB (HB1736) |
01/24/2013 | Reported from General Laws with substitute (22-Y 0-N) (see vote tally) |
01/24/2013 | Committee substitute printed 13104304D-H1 |
01/28/2013 | Read first time |
01/29/2013 | Read second time |
01/29/2013 | Committee substitute agreed to 13104304D-H1 |
01/29/2013 | Engrossed by House - committee substitute HB1736H1 |
01/30/2013 | Read third time and passed House BLOCK VOTE (99-Y 0-N) |
01/30/2013 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally) |
01/31/2013 | Impact statement from DPB (HB1736H1) |
01/31/2013 | Constitutional reading dispensed |
01/31/2013 | Referred to Committee on General Laws and Technology |
02/11/2013 | Reported from General Laws and Technology (13-Y 0-N) (see vote tally) |
02/13/2013 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
02/14/2013 | Read third time |
02/14/2013 | Passed Senate (40-Y 0-N) (see vote tally) |
02/20/2013 | Enrolled |
02/20/2013 | Bill text as passed House and Senate (HB1736ER) |
02/20/2013 | Signed by Speaker |
02/20/2013 | Signed by President |
02/21/2013 | Impact statement from DPB (HB1736ER) |
03/18/2013 | G Approved by Governor-Chapter 489 (effective 7/1/13) |
03/18/2013 | G Acts of Assembly Chapter text (CHAP0489) |