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Bill

A 1431

Establishes security deposit options for certain tenants

2025 Regular Session Introduced by Maritza Davila and 2 co-sponsors

Establishes security deposit options (e.g., insurance, guarantees) for eligible tenants to lower upfront costs while preserving landlord protections.

REFERRED TO HOUSING
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WeVote Research Nonpartisan
Bill Summary · A 1431

Summary of Bill A 1431 — Establishes security deposit options for certain tenants

Overview

Bill A 1431, introduced January 9, 2025 and referred to the Housing Committee, proposes establishing security deposit options for certain tenants. The bill’s sponsors are primary sponsor Jessica Gonzalez-Rojas, with cosponsors Maritza Davila and Al Taylor. A companion bill exists in the Senate (S 6397), and related prior-session bills include A 7105, A 259, and S 8431.

Purpose and intent

  • The stated aim appears to be expanding or reforming how tenants provide security for rental housing by offering alternatives to traditional cash security deposits.
  • The underlying goal is likely to reduce upfront housing costs for eligible tenants while maintaining protections for landlords and properties. Specific eligibility criteria and the exact nature of the options would be defined in the bill’s text.

Key provisions (to be defined in the bill)

  • The exact types of “security deposit options” and who qualifies are not provided in the summary. Potential provisions typically found in this policy area might include:
    • Alternatives to cash deposits (e.g., deposit insurance, surety bonds, guarantor programs, or monthly fee-based arrangements).
    • Eligibility criteria for tenants (income thresholds, rental history, or other suitability standards).
    • Whether landlords are required to accept or offer these options and any tenant notices or disclosures.
    • Oversight, consumer protections, and dispute resolution mechanisms.
    • Any caps, fees, or duration limits associated with the options.
  • The precise language, definitions, and regulatory framework would be in the bill’s full text.

Who is affected

  • Tenants seeking rental housing, particularly those with limited upfront funds or difficulty posting a traditional security deposit.
  • Landlords, property managers, and rental housing providers who would consider or be required to accept these options.
  • Agencies or programs involved in housing access, tenant protection, or consumer finance may play a role in administration or oversight.

Legislative history and status

  • Introduced: January 9, 2025.
  • Status: Referred to the Housing Committee (listed twice in initial actions).
  • Related bills and companions: S 6397 (companion), with prior-session A 7105, A 259, and S 8431 noted as related or prior iterations.

Potential impacts

  • Access: Could lower barriers to securing housing for tenants with limited cash reserves.
  • Landlord risk management: May shift or share risk through approved alternatives; landlords might face different verification, insurance, or guarantee requirements.
  • Administration: May require new program rules, oversight, and funding—depending on the chosen mechanisms.
  • Market effects: Possible changes in vacancy rates or tenant turnover if deposits become more flexible.

Next steps

  • The bill would advance through committee hearings and amendments before potential floor consideration.
  • Stakeholders (tenants, landlords, housing advocates) will review the proposed options, guardrails, and fiscal implications once the full text is released.

If you’d like, I can compare A 1431 to its related bills (e.g., S 6397) or summarize available text from companion or prior-session proposals to illuminate common approaches and differences.

Compiled from official sources — confirm details with the bill’s official record.

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