Bill Text: NY A03278 | 2023-2024 | General Assembly | Introduced
Bill Title: Extends the timeline for the return of security deposits for residential rental agreements from fourteen days to thirty days.
Spectrum: Moderate Partisan Bill (Democrat 8-1)
Status: (Introduced) 2024-01-03 - referred to judiciary [A03278 Detail]
Download: New_York-2023-A03278-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3278 2023-2024 Regular Sessions IN ASSEMBLY February 2, 2023 ___________ Introduced by M. of A. SAYEGH -- read once and referred to the Committee on Judiciary AN ACT to amend the general obligations law, in relation to extending the timeline for the return of security deposits for residential rental agreements from fourteen days to thirty days The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (e) of subdivision 1-a of section 7-108 of the 2 general obligations law, as added by section 25 of part M of chapter 36 3 of the laws of 2019, is amended to read as follows: 4 (e) Within [fourteen] thirty days after the tenant has vacated the 5 premises, the landlord shall provide the tenant with an itemized state- 6 ment indicating the basis for the amount of the deposit retained, if 7 any, and shall return any remaining portion of the deposit to the 8 tenant. If a landlord fails to provide the tenant with the statement and 9 deposit within [fourteen] thirty days, the landlord shall forfeit any 10 right to retain any portion of the deposit. 11 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05396-01-3
