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A02240 Summary:

BILL NO    A02240 

SAME AS    No same as 

SPONSOR    Pretlow

COSPNSR    

MLTSPNSR   

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.
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A02240 Memo:

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
security 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
premises 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
typically 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.
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