Bill Text: NY S04110 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to the amount of security deposit that a landlord may charge a tenant; prohibits landlords from requiring a security deposit in excess of an amount equal to two months' rent.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-02-12 - RECOMMIT, ENACTING CLAUSE STRICKEN [S04110 Detail]
Download: New_York-2019-S04110-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4110 2019-2020 Regular Sessions IN SENATE February 28, 2019 ___________ Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the general obligations law, in relation to the amount of security deposit that a landlord may charge a tenant The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 2 of section 7-108 of the general obligations 2 law is amended by adding a new paragraph (f) to read as follows: 3 (f) Except in instances where statutes or regulations provide for a 4 lesser payment, fee, deposit or charge, no landlord, lessor, sub-lessor 5 or grantor may demand any payment, fee, deposit, or charge, including, 6 but not limited to, any payment, fee, deposit, or charge that is imposed 7 at the beginning of the tenancy to be used to reimburse the landlord for 8 costs associated with processing a new tenant or that is imposed as an 9 advance payment of rent, used or to be used for any purpose, including a 10 security deposit, in an amount or value in excess of an amount equal to 11 two months' rent, including the first month's rent. 12 § 2. This act shall take effect on the ninetieth day after it shall 13 have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD09998-02-9
