NY S08373

Amends the Surrogate's Court Procedure Act to change how trustees of charitable trusts calculate their annual commissions, shifting from a flat 6% of income collected to rates specified in the general trustee commission schedule at 80% of those rates

Limits commissions for charitable trust portions exceeding $20 million in principal value to only 50% of the standard rate

Eliminates the ability of charitable trust trustees to collect commissions for paying out principal

Allows annual trustee commissions to be paid from trust corpus after accounting for annuity or unitrust amounts, rather than from those distribution amounts

Takes effect 60 days after becoming law and applies to all existing and future trusts, with trustees of pre-existing trusts permitted to elect the prior commission structure through December 31 of the year the act takes effect