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A proposed one-time 5% tax on net worth above $1 billion will appear on the November ballot after backers met the June 25 filing deadline. The measure applies retroactively to residents as of January 1, 2026, and is expected to trigger a costly campaign and court challenges.
nbcnews.comVoters collected enough signatures to place a one-time 5% tax on residents and trusts with assets above $1 billion on the November ballot. The revenue would support the state Medicaid program and public education.
New York PostThe president of SEIU-United Healthcare Workers West said the governor is opposing a proposed one-time 5% tax on the state's ultra-rich to accommodate wealthy donors. The measure qualified for the November ballot this week but could be withdrawn before June 25.
jurist.orgA state ballot measure on redistricting received early public backing after details became known. Officials described the proposal as popular from the outset in a politically aligned electorate.