Security Deposit Interest Rate for 2012
For calendar year 2012, the interest rate for rental security deposits (and claims for property, funds, or money delivered to the State Treasurer) has been changed downward from 1.5% to 0.16%. This is a change from the past eight years in which landlords were required to pay 1.5% interest on the security deposit money to the tenant at the end of each year's lease and at termination of the tenancy even though they were not earning 1.5% on the security deposit money.
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