A 7072: 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; 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.

  
  STATE OF NEW YORK ________________________________________________________________________ 7072 2025-2026 Regular Sessions  IN ASSEMBLY March 20, 2025 ___________ 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-k to read as follows: 3 § 235-k. 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 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10722-01-5