Bill Commons

NY S 5431

in committee

Relates to franchise tax on banking corporations

New York · 2025-2026 Regular Session · upper

Quick answers

Did NY S 5431 pass?

Not yet. NY S 5431 is in committee as of 2026-01-07 and has not come to a final vote. Latest recorded action (2026-01-07): REFERRED TO BUDGET AND REVENUE

What is NY S 5431 about?

Reinstates a bank tax based on the highest of four bases: a tax on allocated entire net income, a tax on allocated alternative entire net income, a tax on allocated taxable assets, or a fixed dollar minimum tax; prohibits banks from segregating their income and capital into business and investment varieties.

Who sponsors NY S 5431?

James Skoufis is the primary sponsor of NY S 5431, joined by 2 cosponsors.

Description

Reinstates a bank tax based on the highest of four bases: a tax on allocated entire net income, a tax on allocated alternative entire net income, a tax on allocated taxable assets, or a fixed dollar minimum tax; prohibits banks from segregating their income and capital into business and investment varieties.

Introduced
—
Latest action
2026-01-07 — REFERRED TO BUDGET AND REVENUE
Bill type
bill
Last updated
—

Sponsors

  • James Skoufisprimary
  • Rachel Maycosponsor
  • James Sanders Jr.cosponsor

Committees

Not provided by source.

Action timeline

  1. 2025-02-21

    REFERRED TO BUDGET AND REVENUE

    referral-committee

  2. 2026-01-07

    REFERRED TO BUDGET AND REVENUE

    referral-committee

Versions

Documents

Votes

Not provided by source.

Related bills

  • Prior session: S 7571not in this corpus
  • Prior session: S 6885not in this corpus
  • Prior session: S 3456not in this corpus
  • Prior session: S 1680not in this corpus
  • Prior session: S 3440not in this corpus
  • Companion bill: A 7636

Official source

https://legislation.nysenate.gov/api/3/bills/2025-2026/S5431?summary=&detail=

Attribution

Data from openstates_bulk_csv, retrieved 2026-07-24T05:28:30.722574Z

Inspect retained evidence for changes recorded after evidence tracking began:

Source and document changesStatus and relationship changes

Session-wide evidence can include changes to other bills:

Bulk imports for this sessionSession dates and activity

Use this data

Every field on this page is available from the free public API — no key or licence required. Fetch this bill as JSON: GET /api/v1/bills?jurisdiction=NY&identifier=S 5431. See the API docs or the MCP server for AI assistants.

Known limitations

  • Sponsor party and chamber affiliation are not yet captured by this API.
  • Committee referrals are not yet captured.

See the methodology page for data sources and limitations.