Bill Summary

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. 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. The bill provides that the funds must remain in the escrow account until disbursed in accordance with the lease, property management agreement or by law.

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Status

Became Law

Votes

Date Action Vote Document
2013-01-23House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N)Yea: 7 No: 0 Other: 0Document
2013-01-24House: Reported from General Laws with substitute (22-Y 0-N)Yea: 22 No: 0 Other: 0Document
2013-01-30House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)Yea: 101 No: 0 Other: 0Document
2013-02-11Senate: Reported from General Laws and Technology (13-Y 0-N)Yea: 13 No: 0 Other: 0Document
2013-02-13Senate: Constitutional reading dispensed (40-Y 0-N)Yea: 40 No: 0 Other: 0Document
2013-02-14Senate: Passed Senate (40-Y 0-N)Yea: 40 No: 0 Other: 0Document

Amendments

no data available at this time.

Bill History

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

Sponsors

Name District
Peter FarrellHD-056