4% on Secruity Deposit

This question pertains to New York state. According to a friend of mine there is a law that went into effect around 2001 entitling a tenant to earn 4% of the interest accrued on the security deposit. I tried locating such a law online but could not find anything.

http://www.nysdhcr.gov/Rent/FactSheets/orafac9.pdf

I am asking if there is in fact a law regarding a tenant’s right to earn 4% interest on either the security deposit or actual rent charged? I would appreciate any assistance.

http://www.google.com/url?sa=t&source=web&cd=2&ved=0CB4QFjAB&url=http%3A%2F%2Fwww.oag.state.ny.us%2Fbureaus%2Freal_estate_finance%2Fpdfs%2Ftenants_rights_guide.pdf&rct=j&q=new%20york%20tenant%20rights&ei=diopTYLuD4j4swPOxNT-Bg&usg=AFQjCNHDU0VFq7rhRflgxlaEZhT4A91Eeg&cad=rja

Moving thread from IMHO to General Questions.

Ok Thanks. I’ll send this to my friend.