AN ACT PROHIBITING A LANDLORD FROM REQUIRING A SECURITY DEPOSIT IN EXCESS OF ONE MONTH'S RENT FROM ANY TENANT.

This bill limits security deposits for residential rentals to one month's rent for all tenants, replacing the current system where tenants under 62 could pay up to two months' rent while those 62+ were capped at one month. Landlords must return any excess deposit immediately upon tenant request, regardless of age. It applies to all new rental agreements entered into on or after July 1, 2025. The law affects all residential renters in the state by standardizing deposit requirements.