(New Title) relative to regulated conditional deposits.
Impact
The bill's passage would primarily impact regulations outlined in RSA 540-A concerning rental agreements. It modifies how landlords can structure deposits to secure tenant responsibilities while allowing them to establish their own approval criteria without the fear of infringing legal limits on tenant security deposits. These regulated conditional deposits will count as part of the overall security deposits and may address barriers for applicants with less than ideal credit or rental histories, potentially expanding access to housing for prospective tenants.
Summary
House Bill 1336, known as the Act Relative to Regulated Conditional Deposits, aims to amend existing legislation concerning security deposits in rental agreements. The bill introduces the concept of 'regulated conditional deposits,' which allows landlords to accept certain types of deposits under specific conditions when an applicant does not meet the standard approval criteria for tenancy. This provision seeks to provide more flexibility for both landlords and potential tenants, as it allows acceptance of deposits in installments and does not require advance rental payments to be held in escrow or any such reserve accounts.
Contention
While some stakeholders support the bill for increasing access to housing, critics argue that it could lead to potential exploitation of vulnerable tenants by landlords who may impose more stringent criteria. There is concern that allowing flexibility in deposit collection might not sufficiently protect tenants, particularly those in lower-income brackets who may struggle to meet multiple financial hurdles presented during rental applications. The bill's effectiveness hinges on its implementation and the oversight of landlords' adherence to the proposed regulations, with worries particularly around transparency and fairness in the application of such deposits.
Relative to requiring all revenue raised under the statewide education property tax to be deposited in the education trust fund, and setting an equalized statewide tax rate.
Relative to advanced deposit account wagering and the department of health and human services' rulemaking authority regarding immunization requirements.