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S03315 Summary:

BILL NOS03315A
 
SAME ASSAME AS A07723
 
SPONSORSEPULVEDA
 
COSPNSRPERSAUD, SALAZAR
 
MLTSPNSR
 
Amd 2402, SCPA
 
Relates to establishing new fee rates for large estates; raises the fee rate for estates with a value over $5,000,000 to $10,000.
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S03315 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         3315--A
            Cal. No. 1085
 
                               2023-2024 Regular Sessions
 
                    IN SENATE
 
                                    January 30, 2023
                                       ___________
 
        Introduced  by  Sens.  SEPULVEDA,  PERSAUD,  SALAZAR  --  read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Judiciary  --  committee  discharged  and  said  bill committed to the
          Committee on Rules -- ordered to a third reading, amended and  ordered
          reprinted, retaining its place in the order of third reading
 
        AN  ACT  to  amend  the  surrogate's court procedure act, in relation to
          establishing new fee rates for large estates
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subdivision  7  of  section 2402 of the surrogate's court
     2  procedure act, as amended by section 30 of part J of chapter 62  of  the
     3  laws of 2003, is amended to read as follows:
     4    7.  The  fee  schedule  for  subdivision  1  through 7 inclusive is as
     5  follows:
 
     6  Value of Estate or Subject Matter                               Fee Rate
     7       Less than $10,000 ....................................... $   45.00
     8       10,000 but under 20,000 .................................     75.00
     9       20,000 but under 50,000 .................................    215.00
    10       50,000 but under 100,000 ................................    280.00
    11       100,000 but under 250,000 ...............................    420.00
    12       250,000 but under 500,000 ...............................    625.00
    13       500,000 [and over] but under 750,000 ....................  1,250.00
    14       750,000 but under 1,000,000 .............................  1,875.00
    15       1,000,000 but under 2,000,000 ...........................  2,500.00
    16       2,000,000 but under 3,000,000 ...........................  5,000.00
    17       3,000,000 but under 5,000,000............................  7,500.00
    18       5,000,000 and over ...................................... 10,000.00
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07833-02-3

        S. 3315--A                          2
 
     1    § 2. This act shall take effect on the thirtieth day  after  it  shall
     2  have  become  a law and shall apply to actions and proceedings commenced
     3  on or after such effective date.
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