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A05462 Summary:

BILL NOA05462
 
SAME ASNo Same As
 
SPONSORBores
 
COSPNSR
 
MLTSPNSR
 
Amd §235-g, RP L
 
Relates to methods of billing and/or paying rent; provides that a landlord shall accept payment of rent by personal check and by mail; provides exceptions to such payment options when a check has been returned for insufficient funds or payment has been stopped on a check, draft or order.
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A05462 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A5462               Revised 4/29/2025
 
SPONSOR: Bores
  TITLE OF BILL: An act to amend the real property law, in relation to the methods of billing and/or payment of rent   PURPOSE OR GENERAL IDEA OF BILL: To ensure tenants at least one costless method of paying rent   SUMMARY OF PROVISIONS: Section one: Provides a short title of the bill Section two: Provides for free method of rent payment, allows for rele- vant exemptions in the case of non-payment via a check drawn on insuffi- cient funds, allows for on-premises ' payment Section three: establishes the effective date.   JUSTIFICATION: The electoral results in 2024 revealed a lot about the feelings of the electorate and the biggest issues for the American people have clearly been economic. It's not difficult to see why. With a rising cost of living, increasing housing prices, and fees being added to every trans- action, many in our state feel as though they are losing money simply by existing. One thing New Yorkers certainly should have to do is pay a fee just to send in their rent. Current law allows property owners to require that tenants pay rent in a way that incurs an additional fee for the renter. For example, a tenant forced to pay by personal check, cashiers check, or wire transfer would have to pay a bank or some other third party a fee for the chance to pay rent. Based on a Washington State Law, this bill would require land- lords, with limited exceptions, to provide tenants with at least one free method of rent payment. In a time when the voters have spoken loud and clear that the cost of living is too high, it's high time we did away with these kinds of absurd fees that bleed New Yorkers dry.   PRIOR LEGISLATIVE HISTORY: New bill.   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None   EFFECTIVE DATE: This act shall take effect on the ninetieth day after it shall have become a law.
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