OLR Bill Analysis
sSB 114 (File 178, as amended by House "A" and Senate "A")*
AN ACT PROHIBITING LANDLORDS FROM REQUIRING TENANTS TO PAY RENT BY ELECTRONIC FUNDS TRANSFER.
For residential leases or rental agreements executed on or after October 1, 2013, this bill prohibits landlords from requiring that rent or security deposits be paid by electronic funds transfer. The bill defines “electronic funds transfer” as a funds transfer initiated through an electronic terminal, telephone, computer, or magnetic tape that orders, instructs, or authorizes a financial institution to debit or credit an account. It does not include any transfer originated by check, draft, or similar paper instrument.
*House Amendment “A” limits the prohibition to residential leases or rental agreements.
*Senate Amendment “A” limits the prohibition to leases or rental agreements executed on or after October 1, 2013.
EFFECTIVE DATE: October 1, 2013
Joint Favorable Substitute