Bill Text: NY A06517 | 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) 2020-01-08 - referred to judiciary [A06517 Detail]
Download: New_York-2019-A06517-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 6517 2019-2020 Regular Sessions IN ASSEMBLY March 8, 2019 ___________ Introduced by M. of A. CYMBROWITZ -- read once and referred 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
