S 4087: Requires a landlord to return to a tenant the full security deposit within thirty days of the surrender of the premises by such tenant unless the landlord provides such tenant with a written statement listing the reasons for the retention of any portion of the deposit; sets forth particular situations for which the landlord may retain such security deposit; renders the landlord liable for treble damages for any violation.

  
  STATE OF NEW YORK ________________________________________________________________________ 4087 2025-2026 Regular Sessions  IN SENATE January 31, 2025 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the general obligations law, in relation to the return of a security deposit by a landlord The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The general obligations law is amended by adding a new 2 section 7-104 to read as follows: 3 § 7-104. Money deposited or advanced for use or rental of any dwell- 4 ing; retention. 1. Definitions. For the purpose of this section: 5 (a) The term "security deposit" shall mean any advance or deposit of 6 money that is subject to the provisions of section 7-103 of this title, 7 and the primary function of which is to secure the performance of a 8 rental agreement for the use or rental of any dwelling or any part ther- 9 eof. 10 (b) The term "landlord" shall mean any person who receives payment 11 from a tenant for the rental or use of any dwelling or any portion ther- 12 eof and has received a security deposit in connection with such rental. 13 (c) The term "tenant" shall mean any person who occupies any dwelling 14 or any portion thereof for which such person pays rent and who, in 15 connection with such rental, has furnished a security deposit. 16 2. A landlord shall, within thirty days after the tenant vacates the 17 dwelling return to the tenant the full security deposit and any accrued 18 interest to which the tenant is entitled. 19 3. A landlord may retain all or a part of a security deposit for 20 nonpayment of rent, use and occupancy, unjustifiable abandonment of the 21 premises prior to the expiration of the lease term, nonpayment of utili- 22 ty charges, repair work or cleaning contracted by the tenant or damages 23 caused by the tenant to the premises. In the event that the landlord 24 retains any portion of the security deposit, such landlord shall provide 25 the tenant with a written statement listing the reasons for the EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06814-02-5 
 S. 4087 2 1 retention of such portion of the security deposit. When the statement is 2 delivered it shall be accompanied by payment of the difference between 3 any sum deposited and the amount retained. The landlord shall be deemed 4 to have complied with this section by mailing the statement and any 5 payment required to the tenant's new address, if known by the landlord, 6 or to the last known address of the tenant. 7 4. The willful retention of a security deposit in violation of this 8 section shall render a landlord liable for treble the amount of that 9 portion of the security deposit wrongfully withheld from the tenant, 10 together with reasonable attorney's fees and court costs. In any action 11 brought by a tenant under this section, the landlord shall bear the 12 burden of proving that their withholding of the security deposit or any 13 portion thereof was not willful. 14 5. Any provision of a contract or agreement whereby a person who so 15 deposits or advances money waives any provision of this section is abso- 16 lutely void. 17 § 2. This act shall take effect on the sixtieth day after it shall 18 have become a law.