S 2218 New York Senate · 2025 Regular Session

Relates to rental-purchase agreement forms

This bill sets requirements for rental-purchase agreements, affecting both renters and merchants who use these contracts. It mandates that key disclosures (like late fee rules) appear in 12-point bold type. For late payments, it caps fees at 10% of the overdue amount or $3 for weekly agreements, $5 for monthly agreements, and prohibits charging for payments made within 3 days (weekly) or 7 days (monthly) of the due date. Weekends and federal holidays when the postal service is closed do not count toward these deadlines.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 16, 2025 Last action Jan 7, 2026
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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO JUDICIARY
upper
Jan 16, 2025
Committee
REFERRED TO JUDICIARY
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Leroy Comrie
Leroy Comrie
DDemocratic
NY
14