Title:
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Ordinance providing that annual landlord interest payments on residential tenant security deposits shall be paid at an interest rate determined annually by the Residential Rent Stabilization and Arbitration Board from the posted Federal Reserve Discount rates, instead of continuing to be paid at a five percent (5%) simple interest rate as provided by the current ordinance, and clarifying that interest accrues until termination of the tenancy.
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Attachments:
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1. Leg_Ver1, 2. Leg_Ver2, 3. Leg_Final
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