Real Estate Board; protection of escrow funds by real estate licensee, rental agreement, etc. (HB1736)

Introduced By

Del. Peter Farrell (R-Henrico)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Passed


01/08/2013Prefiled and ordered printed; offered 01/09/13 13101778D
01/08/2013Referred to Committee on General Laws
01/14/2013Assigned GL sub: #1 Housing
01/23/2013Subcommittee recommends reporting with amendment(s) (7-Y 0-N)
01/24/2013Impact statement from DPB (HB1736)
01/24/2013Reported from General Laws with substitute (22-Y 0-N) (see vote tally)
01/24/2013Committee substitute printed 13104304D-H1
01/28/2013Read first time
01/29/2013Read second time
01/29/2013Committee substitute agreed to 13104304D-H1
01/29/2013Engrossed by House - committee substitute HB1736H1
01/30/2013Read third time and passed House BLOCK VOTE (99-Y 0-N)
01/30/2013VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
01/31/2013Impact statement from DPB (HB1736H1)
01/31/2013Constitutional reading dispensed
01/31/2013Referred to Committee on General Laws and Technology
02/11/2013Reported from General Laws and Technology (13-Y 0-N) (see vote tally)
02/13/2013Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/14/2013Read third time
02/14/2013Passed Senate (40-Y 0-N) (see vote tally)
02/20/2013Bill text as passed House and Senate (HB1736ER)
02/20/2013Signed by Speaker
02/20/2013Signed by President
02/21/2013Impact statement from DPB (HB1736ER)
03/18/2013G Approved by Governor-Chapter 489 (effective 7/1/13)
03/18/2013G Acts of Assembly Chapter text (CHAP0489)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 40 seconds.