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New YorkS 83732025-2026 Regular SessionSenate

Relates to the computation and allocation of the commissions of trustees of charitable trusts; repealer

Sponsored By: Brad Hoylman-Sigal (Democratic)

Became Law

RULESJUDICIARY

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 1 benefits, 1 costs, 2 mixed.

Lower commissions for charitable trusts

Trusts set up only for public, religious, charitable, scientific, literary, educational, or fraternal uses face lower trustee pay. During the trust’s continuance, annual commissions from income are limited to 80% of the normal rates, including after a life income interest ends. For the part of principal over $20,000,000, only half the normal rate applies. Trustees, including corporate trustees, cannot take a commission from principal when they pay out principal. The law also repeals paragraph (c) of subdivision 6 of SCPA §2308.

How trustee commissions are charged

The law sets how yearly trustee pay is taken. By default, one-third comes from trust income and two-thirds from principal, unless the will or trust says otherwise. For trusts that define income under EPTL §11-2.4, commissions are paid from the corpus after any annuity or unitrust amounts. Commissions are not taken out of those annuity or unitrust amounts.

Commissions on held-back trust income

If income is held and not added to principal, it counts as its own trust for fee calculations. The trustee can take commissions on that held income at the same rates that apply to principal. This lowers the net amount later available to the people or charities who receive that income.

Start date and transition option

The law takes effect 60 days after it became law. It applies to all trusts in existence on or after that date. A trustee of an existing trust can choose the old commission rules only until December 31 of the year the law takes effect.

Sponsors & Cosponsors

Sponsor

  • Brad Hoylman-Sigal

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 71 • No: 9

Senate vote • 6/11/2025

FLOOR Vote

Yes: 52 • No: 7

committee vote • 6/9/2025

Rules Committee Vote

Yes: 19 • No: 2

Actions Timeline

  1. SIGNED CHAP.570

    11/21/2025Senate

  2. DELIVERED TO GOVERNOR

    11/17/2025Senate

  3. RETURNED TO SENATE

    6/16/2025House

  4. PASSED ASSEMBLY

    6/16/2025House

  5. ORDERED TO THIRD READING RULES CAL.824

    6/16/2025House

  6. SUBSTITUTED FOR A8300

    6/16/2025House

  7. REFERRED TO JUDICIARY

    6/11/2025House

  8. DELIVERED TO ASSEMBLY

    6/11/2025Senate

  9. PASSED SENATE

    6/11/2025Senate

  10. ORDERED TO THIRD READING CAL.1672

    6/9/2025Senate

  11. REFERRED TO RULES

    6/5/2025Senate

Bill Text

  • Original

    6/5/2025

    PDF

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