New York 2025 Session Status: Introduced

S10585 — Assesses a separate tax on distributions from designated settlement funds

Last action — In Assembly Committee

  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 May 27, 2026. It must pass committee before a floor vote.

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.

In plain language

Imposes a 100% tax on distributions from designated settlement funds.

This legislation establishes a tax rate of 100% on any distributions made from the federal anti-weaponization fund. The tax cannot be decreased by any deductions, exemptions, or credits.

Summary

Assesses a 100% tax on distributions from the federal anti-weaponization fund; provides that such tax shall not be reduced pursuant to any deduction, exemption or credit.

Bill Text

Action History

  1. REFERRED TO WAYS AND MEANS

  2. DELIVERED TO ASSEMBLY

  3. PASSED SENATE

  4. ORDERED TO THIRD READING CAL.1523

  5. COMMITTEE DISCHARGED AND COMMITTED TO RULES

  6. REFERRED TO BUDGET AND REVENUE

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

taxation
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 S10585 do?
Assesses a 100% tax on distributions from the federal anti-weaponization fund; provides that such tax shall not be reduced pursuant to any deduction, exemption or credit.
Who sponsors S10585?
S10585 is sponsored by Michael Gianaris.
What is the current status of S10585?
This bill has been introduced in the Senate. Introduced May 27, 2026. It must pass committee before a floor vote.
Where can I track S10585?
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Last checked for changes 3 months ago · updated continuously

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