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A02240 Summary:

A02240 Actions:

A02240 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
 submitted in accordance with Assembly Rule III, Sec 1(f)



 
BILL NUMBER: A2240
 
SPONSOR: Pretlow

 
TITLE OF BILL:  An act to amend the real property law, in relation to
entitling senior citizens to a refund of the portion of a security
deposit exceeding one month's rent
 
 
PURPOSE: This proposal limits the amount of residential rental securi-
ty deposit which may be charged to senior citizens who have occupied the
same premises for five years, entitles a resident who attains the age of
sixty-two  during  the  term  of  occupancy  to receive a refund of that
portion of the security deposit in excess of one month's rent.
 
 

SUMMARY OF PROVISIONS: Amends the real property law by  adding  a  new
g235-g  to  provide that no landlord may charge more than the equivalent
of one month's rent as a security deposit for residential  rental  prem-
ises  occupied by any tenant who has attained the age of sixty-two years
or older and who has occupied the  premises  for  five  or  more  years.
Further  provides that any tenant, upon attaining sixty-two years of age
during the term of occupancy, shall be entitled  to  a  refund  of  that
portion  of  any  security deposit held by the landlord in excess of one
month's rent.
 
 
JUSTIFICATION: This proposal is  designed  to  provide  a  measure  of
financial relief to senior citizens who are required to pay in excess of
one  month's rent as a security deposit. Since senior citizens are typi-
cally low-risk, dependable tenants, limiting the amount of security they
must pay, or providing a partial refund, will not expose the landlord to

any substantial loss.
 
 
LEGISLATIVE HISTORY:   A.585  2013-14  referred  to  judiciary  A.2394
2011/2012  referred  to judiciary A.4405 2009/2010 referred to judiciary
A.797 of 1997/98:  reported  -  third  reading  of  calendar  A.1587  of
1995/96:  reported  to  rules A.8369 of 1993/94.  S.7177/A.6138-1999-00-
Referred to Aging in Senate and Passed Assembly
 
 
FISCAL IMPLICATIONS:; None to the state.
 
 
EFFECTIVE DATE: This act shall take effect Immediately.

A02240 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          2240
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 15, 2015
                                       ___________
 
        Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
          tee on Judiciary
 
        AN ACT to amend the real property law, in relation to  entitling  senior
          citizens  to  a  refund of the portion of a security deposit exceeding
          one month's rent
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  The  real property law is amended by adding a new section
     2  235-h to read as follows:
     3    § 235-h. Senior citizens security  deposit  refund.  No  landlord  may
     4  charge more than the equivalent of one month's rent as a security depos-
     5  it  for  residential  rental  premises  occupied  by  any tenant who has
     6  attained the age of sixty-two years or older and who has  occupied  such
     7  residential  rental  premises  for  five  or  more years. Upon attaining
     8  sixty-two years of age during the term  of  occupancy,  any  tenant  who
     9  notifies  the  landlord shall be entitled to a refund of that portion of
    10  any security deposit held by the landlord in excess of one month's rent.
    11    § 2. This act shall take effect immediately.
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05408-01-5