DEPOSIT Act

This bill, the DEPOSIT Act, helps low-income renters cover security deposits and moving costs when using housing choice vouchers or HOME program funds. It requires public housing agencies and participating jurisdictions to return unused deposit assistance to reuse for future tenants. The bill authorizes federal funding to cover these costs directly and mandates a study on alternatives to traditional security deposits, like insurance premiums, examining their impact on different tenant groups. It specifically targets very low- and low-income families facing housing barriers.