BILL NO A02240
SAME AS No Same as
Add S235-h, RP L
Limits the amount of security deposit for residential rental premises which may
be charged to a senior citizen who has occupied the premises for five years or
more to the equivalent of one month's rent and entitles a person who has
attained the age of sixty-two to a refund of that portion of any security
deposit held by the landlord which exceeds one month's rent.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A2240
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
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.