S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8306
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 12, 2025
                                ___________
 
 Introduced  by  M.  of A. P. CARROLL -- (at request of the Department of
   Motor Vehicles) -- read once and referred to the Committee on  Judici-
   ary
 
 AN  ACT  to amend the estates, powers and trusts law, in relation to the
   value of a motor vehicle exempt from  the  provisions  of  a  will  or
   intestate distribution for the benefit of the family of a decedent
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph 5 of paragraph (a) of  section  5-3.1  of  the
 estates, powers and trusts law, as amended by chapter 437 of the laws of
 2010, is amended to read as follows:
   (5) One motor vehicle not exceeding in value [twenty-five] FIFTY thou-
 sand  dollars.  In  the alternative, if the decedent shall have been the
 owner of one or more motor vehicles each of which  exceed  [twenty-five]
 FIFTY  thousand  dollars  in  value,  the surviving spouse or decedent's
 children may acquire one such motor vehicle from the estate,  regardless
 of  the  fact  that the decedent may also have been the owner of another
 motor vehicle of lesser value than [twenty-five] FIFTY thousand dollars,
 by payment to the estate of the amount by which the value of  the  motor
 vehicle exceeds [twenty-five] FIFTY thousand dollars; in lieu of receiv-
 ing  such  motor  vehicle, the surviving spouse or children may elect to
 receive in cash an amount equal to the value of the motor  vehicle,  not
 to  exceed [twenty-five] FIFTY thousand dollars. If any motor vehicle so
 acquired by the spouse or children of the decedent was a specific legacy
 in decedent's will, the payment to the estate of the amount by which the
 value of the motor vehicle exceeds [twenty-five] FIFTY thousand  dollars
 shall vest in the specific legatee.
   §  2. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09978-01-5