Assembly Bill A2023

2025-2026 Legislative Session

Relates to a cap on security deposits for residential leases of one year or longer

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

multi-Sponsors

2025-A2023 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
General Obligations Law
Laws Affected:
Amd §7-103, Gen Ob L
Versions Introduced in Other Legislative Sessions:
2019-2020: A5044
2021-2022: A3616
2023-2024: A871

2025-A2023 (ACTIVE) - Summary

Relates to a cap on security deposits for residential leases of at least one year to the equivalent of one-month's rent under the lease.

2025-A2023 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2023
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2025
                                ___________
 
 Introduced  by  M.  of A. ROSENTHAL, SIMON, COLTON, CRUZ, RAGA -- Multi-
   Sponsored by -- M.  of  A.  MANKTELOW,  McDONOUGH  --  read  once  and
   referred to the Committee on Judiciary
 
 AN  ACT  to  amend  the general obligations law, in relation to a cap on
   security deposits for residential leases of one year or longer

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 7-103 of the general obligations law is amended by
 adding a new subdivision 2-c to read as follows:
   2-C. (A) FOR ALL CONTRACTS UNDER THIS SECTION OF ONE YEAR  OR  LONGER,
 ANY  DEPOSIT  OR ADVANCE SHALL NOT EXCEED THE AMOUNT OF ONE MONTH'S RENT
 UNDER SUCH CONTRACT.
   (B) ANY ADDITIONAL MOVE-IN FEES, INCLUDING FEES FOR  COMMON  HOUSEHOLD
 PETS,  BACKGROUND  CHECKS OR CREDIT CHECKS, SHALL BE INCLUDED WITHIN THE
 DOLLAR AMOUNT REQUIRED BY PARAGRAPH (A) OF THIS  SUBDIVISION.    IF  THE
 LANDLORD  REQUESTS  A DEPOSIT FOR THE RESIDING OF A COMMON HOUSEHOLD PET
 FROM THE TENANT, SUCH FEE SHALL NOT EXCEED TWENTY-FIVE  PERCENT  OF  THE
 TOTAL  DEPOSIT  OR ADVANCE.   ANY OTHER MOVE-IN FEE SHALL NOT EXCEED TEN
 PERCENT OF THE TOTAL DEPOSIT OR ADVANCE.
   (C) ALL FEES UNDER THIS SECTION, EXCEPT FEES FOR BACKGROUND CHECKS AND
 CREDIT CHECKS, SHALL BE REFUNDABLE TO THE TENANT. THE PORTION OF ANY FEE
 COLLECTED BY THE LANDLORD FOR A TENANT'S COMMON HOUSEHOLD PET SHALL ONLY
 BE RETAINED BY THE LANDLORD AFTER THE TENANT HAS VACATED THE PREMISES IF
 SUCH MONEY IS USED FOR CLEANING OR TO REPAIR DAMAGES CAUSED DIRECTLY  BY
 SUCH PET.
   (D)  ANY  PERSON WHO VIOLATES THE PROVISIONS OF THIS SUBDIVISION SHALL
 BE PUNISHED BY A CIVIL FINE OF UP TO FIFTEEN PERCENT OF THE ANNUAL  RENT
 UNDER SUCH CONTRACT.
   §  2.  This  act  shall take effect on the sixtieth day after it shall
 have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05426-01-5

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.