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Bill

Bill

A 629

Relates to establishing the tenancy deposit protection program

2025 Regular Session Introduced by William Colton and 5 co-sponsors

New York bill establishing tenant deposit protection program to regulate landlord handling of security deposits and create enforcement mechanisms for tenant refund disputes.

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Bill Summary · A 629

Legislative bill overview

Bill A 629 establishes a tenancy deposit protection program in New York that would regulate how landlords handle security deposits and other upfront payments from tenants. The bill creates requirements for deposit collection, holding, and return processes, with enforcement mechanisms and tenant protections built into the system.

Why is this important

Security deposits are a significant financial barrier for renters, often amounting to thousands of dollars, and disputes over deposit returns are among the most common landlord-tenant conflicts. This program would standardize deposit handling across the state, reduce fraud, and provide tenants with clearer recourse if deposits are wrongfully withheld.

Potential points of contention

  • Landlord compliance costs: New requirements for deposit handling and administration could impose administrative burdens and costs on small landlords, particularly in property management
  • Interest payment obligations: Programs typically require landlords to pay interest on held deposits, which increases the financial impact on property owners and could affect rental rates
  • Enforcement and liability: Determining who oversees compliance and what penalties apply for violations could be contentious—harsh penalties might discourage rental housing supply while weak enforcement limits tenant protection

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

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