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S 6397

Establishes security deposit options for certain tenants

2025 Regular Session Introduced by Robert Jackson

Bill S 6397 allows tenants to choose flexible security deposit options, capping deposits at one month's rent, easing financial burdens and promoting fair housing practices.

REFERRED TO JUDICIARY
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WeVote Research Nonpartisan
Bill Summary · S 6397

Summary of Bill S 6397: Establishes Security Deposit Options for Certain Tenants

Purpose and Intent

Bill S 6397 aims to provide greater flexibility and protection for tenants regarding security deposits. The legislation seeks to establish alternative options for tenants to secure their rental agreements, thereby making housing more accessible and affordable.

Key Provisions

The bill proposes the following key provisions:

  • Security Deposit Alternatives: The bill allows tenants to choose from multiple options for security deposits, which may include:

    • A traditional cash deposit.
    • A surety bond or insurance policy that covers potential damages.
    • A payment plan that allows tenants to pay the security deposit in installments.

  • Limitations on Deposits: The bill stipulates that the total amount of the security deposit cannot exceed one month's rent, ensuring that tenants are not burdened with excessive upfront costs.

  • Transparency Requirements: Landlords will be required to provide clear information about the security deposit options available to tenants, including any associated fees or terms.

  • Return of Deposits: The bill outlines the timeline and conditions under which security deposits must be returned to tenants after the lease ends, promoting fair practices in the rental market.

Who Would Be Affected

  • Tenants: The primary beneficiaries of this bill are tenants, particularly those who may struggle to afford large upfront security deposits. The options provided could make it easier for them to secure housing.

  • Landlords: Landlords will need to adapt to the new regulations regarding security deposits, including offering the alternative options and ensuring compliance with transparency requirements.

  • Housing Advocates: Organizations and advocates focused on tenant rights and affordable housing will find this bill aligns with their goals of improving housing accessibility.

Procedural Aspects

  • Introduced: The bill was introduced on March 13, 2025.
  • Current Status: As of now, the bill has been referred to the Judiciary Committee for further consideration.
  • Related Legislation: This bill is related to several prior-session bills (S 8431, S 2001, S 180) and has a companion bill (A 1431) in the Assembly, indicating ongoing legislative interest in tenant security deposit issues.

Conclusion

Bill S 6397 represents a significant step towards reforming security deposit practices in the rental market. By offering alternative options and capping deposit amounts, the bill aims to alleviate financial burdens on tenants and promote fair housing practices. As it moves through the legislative process, its potential impact on both tenants and landlords will be closely monitored.

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

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