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S05278 Summary:

BILL NOS05278
 
SAME ASNo Same As
 
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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S05278 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5278
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                    February 20, 2025
                                       ___________
 
        Introduced  by  Sens.  SEPULVEDA,  PERSAUD,  SALAZAR  --  read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Judiciary
 
        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
 
    19    § 2. This act shall take effect on the thirtieth day  after  it  shall
    20  have  become  a law and shall apply to actions and proceedings commenced
    21  on or after such effective date.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09449-01-5
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