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Assembly Bill A2652

2025-2026 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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Current Bill Status - In Assembly Committee

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2025-A2652 (ACTIVE) - Details

See Senate Version of this Bill:
S4856
Current Committee:
Assembly Judiciary
Law Section:
General Obligations Law
Laws Affected:
Amd §7-108, Gen Ob L
Versions Introduced in 2023-2024 Legislative Session:
A3278, S4581

2025-A2652 (ACTIVE) - Summary

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

2025-A2652 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2652
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 21, 2025
                                ___________
 
 Introduced by M. of A. SAYEGH, HYNDMAN, PAULIN, EACHUS, MANKTELOW, DAVI-
   LA,  LEMONDES,  SIMON  --  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.
                                                            LBD05457-01-5

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