June 7, 2018, Introduced by Rep. Lucido and referred to the Committee on Judiciary.
A bill to amend 1972 PA 348, entitled
"An act to regulate relationships between landlords and tenants
relative to rental agreements for rental units; to regulate the
payment, repayment, use and investment of security deposits; to
provide for commencement and termination inventories of rental
units; to provide for termination arrangements relative to rental
units; to provide for legal remedies; and to provide penalties,"
by amending section 2 (MCL 554.602).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
2. A Subject to the
requirements of this act, a landlord
may
require a security deposit for each rental unit. A security
deposit
shall be required and maintained in accordance with the
terms
of this act and The amount of
the security deposit shall not
exceed
1 1/2 2 months' rent
plus $100.00.
Enacting section 1. This amendatory act takes effect 90 days
after the date it is enacted into law.