Assembly Bill A8300

2025-2026 Legislative Session

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

download bill text pdf

Sponsored By

Current Bill Status Via S8373 - Passed Assembly


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2025-A8300 (ACTIVE) - Details

See Senate Version of this Bill:
S8373
Law Section:
Surrogate's Court Procedure Act
Laws Affected:
Amd §§2308, 2309 & 2312, rpld §2308 sub 6 ¶(c), SCPA
Versions Introduced in Other Legislative Sessions:
2021-2022: S6499
2023-2024: S7475

2025-A8300 (ACTIVE) - Summary

Relates to the computation and allocation of the commissions of trustees of charitable trusts.

2025-A8300 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8300
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 12, 2025
                                ___________
 
 Introduced  by  M.  of  A.  McMAHON  -- (at request of the Unified Court
   System) -- read once and referred to the Committee on Judiciary
 
 AN ACT to amend the surrogate's court procedure act, in relation to  the
   computation  and allocation of the commissions of trustees of charita-
   ble trusts; and to repeal certain  provisions  of  such  law  relating
   thereto
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 3 of section  2308  of  the  surrogate's  court
 procedure act, as amended by chapter 601 of the laws of 2019, is amended
 to read as follows:
   3.  Unless  the will OR LIFETIME TRUST INSTRUMENT otherwise explicitly
 provides, the annual commissions allowed by [subdivision  two  of]  this
 section  shall  be payable one-third from the income of the trust [or of
 the property subject to the power in  trust]  and  two-thirds  from  the
 principal  of  the  trust  [or from the property subject to the power in
 trust]. However, in the case of a trust whose definition  of  income  is
 governed  by  SECTION 11-2.4 of the estates, powers and trusts law, such
 annual commissions shall be payable from the corpus of  any  such  trust
 after  allowance  for the ANNUITY OR unitrust [amount] AMOUNTS and shall
 not be payable out of such ANNUITY OR unitrust amount AND SHALL  NOT  BE
 PAYABLE OUT OF SUCH UNITRUST AMOUNT.
   §  2.  Paragraphs  (a) and (b) of subdivision 5 of section 2308 of the
 surrogate's court procedure act, as amended by chapter 601 of  the  laws
 of 2019, are amended to read as follows:
   (a) During the continuance of a trust created solely for public, reli-
 gious,  charitable,  scientific, literary, educational or fraternal uses
 and during the period of continuance of such a trust  ESTABLISHED  after
 the  termination  of a life use or uses the trustee shall be entitled to
 and may retain ANNUAL commissions [from income  in  an  amount  annually
 equal to 6 per cent of income collected in each year] ACCORDING  TO  THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09812-01-5
              

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