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A02240 Text:

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

                                         2240

                              2015-2016 Regular Sessions

                                 I N  A S S E M B L Y

                                   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    S 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    S 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
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