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Assembly Bill A3278

2023-2024 Legislative Session

Extends the timeline for the return of security deposits for residential rental agreements from fourteen days to thirty days

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Archive: Last Bill Status - In Assembly Committee

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2023-A3278 (ACTIVE) - Details

See Senate Version of this Bill:
S4581
Current Committee:
Assembly Judiciary
Law Section:
General Obligations Law
Laws Affected:
Amd §7-108, Gen Ob L
Versions Introduced in 2025-2026 Legislative Session:
A2652, S4856

2023-A3278 (ACTIVE) - Summary

Extends the timeline for the return of security deposits for residential rental agreements from fourteen days to thirty days.

2023-A3278 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3278
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 2, 2023
                                ___________
 
 Introduced by M. of A. SAYEGH -- read once and referred to the Committee
   on Judiciary
 
 AN  ACT  to  amend the general obligations law, in relation to extending
   the timeline for the  return  of  security  deposits  for  residential
   rental agreements from fourteen days to thirty days

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (e) of subdivision 1-a of section  7-108  of  the
 general  obligations law, as added by section 25 of part M of chapter 36
 of the laws of 2019, is amended to read as follows:
   (e) Within [fourteen] THIRTY days after the  tenant  has  vacated  the
 premises,  the landlord shall provide the tenant with an itemized state-
 ment indicating the basis for the amount of  the  deposit  retained,  if
 any,  and  shall  return  any  remaining  portion  of the deposit to the
 tenant. If a landlord fails to provide the tenant with the statement and
 deposit within [fourteen] THIRTY days, the landlord  shall  forfeit  any
 right to retain any portion of the deposit.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05396-01-3

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