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Bill

SB 3530

RENT-SECURITY DEPOSITS

104th Regular Session Introduced by Laura Fine and 2 co-sponsors

Illinois bill regulates rental security deposit handling, establishing procedures and timelines that will affect landlord-tenant financial transactions.

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WeVote Research Nonpartisan
Bill Summary · SB 3530

Legislative bill overview

SB 3530 addresses the handling and regulation of rental security deposits in Illinois. The bill has been assigned to the Executive Committee and is currently in the early stages of the legislative process, with a committee deadline established for April 24, 2026.

Why this is important

Security deposits are a common point of friction between landlords and tenants. Legislation in this area affects millions of renters' access to their money and protects both tenant financial security and landlord legitimate claim procedures. Clear deposit regulations reduce disputes and provide legal clarity for housing transactions.

Potential points of contention

  • Deposit return timelines: Disagreement over how quickly landlords must return deposits after lease termination and under what conditions they may withhold funds
  • Interest accrual: Whether deposits held in interest-bearing accounts should benefit tenants or landlords, and at what rates
  • Deduction limitations: How broadly landlords can interpret "normal wear and tear" versus damages, affecting what can be withheld from deposits

Compiled from official sources — confirm details with the bill’s official record.

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