New York 2025 Session Status: Introduced

S8432 — Relates to the scope of certain provisions relating to beneficial owners of limited liability companies

Last action — Vetoed

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced June 10, 2025. It must pass committee before a floor vote.

Vetoed by Governor Kathy Hochul (Democratic) on December 19, 2025.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Not enough signal yet

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Amends the definitions of the terms "beneficial owner", "reporting company" and "exempt company" to set the scope of certain provisions relating to beneficial owners of limited liability companies; authorizes the department of state to further clarify any such definitions.

Bill Text

Action History

  1. VETOED MEMO.164

  2. DELIVERED TO GOVERNOR

  3. RETURNED TO SENATE

  4. PASSED ASSEMBLY

  5. ORDERED TO THIRD READING RULES CAL.686

  6. SUBSTITUTED FOR A8662A

  7. REFERRED TO WAYS AND MEANS

  8. DELIVERED TO ASSEMBLY

  9. PASSED SENATE

  10. ORDERED TO THIRD READING CAL.2030

  11. REFERRED TO RULES

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 218 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (218)

218 members have not signed on to this bill.

Show all 218 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S8432 do?
Amends the definitions of the terms "beneficial owner", "reporting company" and "exempt company" to set the scope of certain provisions relating to beneficial owners of limited liability companies; authorizes the department of state to further clarify any such definitions.
Who sponsors S8432?
S8432 is sponsored by Brad Hoylman-Sigal.
What is the current status of S8432?
This bill has been introduced in the Senate. Introduced June 10, 2025. It must pass committee before a floor vote.
Where can I track S8432?
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Last checked for changes 3 months ago · updated continuously

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