Proposal 5 · New York City · Nov 3, 2026

Rainy day reserves

Official title: Set Contribution Targets for Rainy Day Fund to Promote Sufficient Budgetary Reserves

Sets a reserve goal and requires a public deposit methodology.

At a glance

Charter amendment

Does it raise taxes?: No. Sets savings targets for the city’s rainy-day fund; deposits still depend on each year’s budget.
Estimated cost or revenue: Not quantified in the cited official explanation.
Who pays: City government; specific incidence not quantified.
Where the money goes: City administration
How long: Charter amendment; no sunset identified.

Worth knowing: No independently verified dollar estimate in this dataset.

From the NYC Votes and the state’s fiscal analysis. Estimates are the state’s, not ours.

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✓ A Yes vote means

Sets a goal of at least 12% of prior-year tax revenue in reserves; deposits still require budget approval.

× A No vote means

Keeps current law without this reserve target.

Stays the same either way

What remains the same under either outcome has not been independently established in this research.

TypeCharter amendment

Rate or thresholdNot a tax-rate measure.

Cost, who pays and where the money goes are in “At a glance” above.

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Supporters say

Common Cause and Citizens Union back it as a step toward a healthier reserve, while saying it doesn’t go far enough.

Opponents say

The Citizens Budget Commission and Reinvent Albany oppose it as too weak, arguing other reserves shouldn’t count toward the target.

We haven’t loaded campaign-finance filings for Proposal 5 yet. You can look them up directly:

NYC Votes
2026 Ballot Proposal 5 · Official plain-language explanation
Checked Oct 31, 2026