Synopsis As Introduced Amends the Landlord and Tenant Act. Defines "application fee". Provides that a lessor may not charge an application fee that exceeds the lessor's actual out-of-pocket costs of evaluating a prospective lessee's application to enter into a lease with the lessor. Contains provisions concerning the procedure for processing applications from prospective lessees. Provides that if the lessor decides not to offer or accept a lease, the lessor shall disclose in writing the specific grounds that led to the denial and provide a copy of any information obtained from a third party that formed a basis for the denial. Provides that a lessor who collects an application fee from a prospective lessee may not knowingly make any misrepresentation to the prospective lessee regarding the current or future availability of a dwelling unit for lease. Provides that a lessor who violates the new provisions is liable to the prospective lessee for the application fee, a civil penalty of up to $200, and reasonable attorney's fees and costs.