The 126th New York State Legislature, consisting of the New York State Senate and the New York State Assembly, met from January 7 to April 23, 1903, during the third year of Benjamin B. Odell, Jr.'s governorship, in Albany.

Under the provisions of the New York Constitution of 1894, 50 Senators and 150 assemblymen were elected in single-seat districts; senators for a two-year term, assemblymen for a one-year term. The senatorial districts were made up of entire counties, except New York County (twelve districts), Kings County (seven districts), Erie County (three districts) and Monroe County (two districts). The Assembly districts were made up of contiguous area, all within the same county, .

At this time there were two major political parties: the Republican Party and the Democratic Party. The Social Democratic Party, the Prohibition Party, the Socialist Labor Party, and a "Liberal Democratic" faction also nominated tickets.

The New York state election, 1902, was held on November 4. Gov. Benjamin B. Odell, Jr. was re-elected; and State Senator Frank W. Higgins was elected Lieutenant Governor; both Republicans. Of the other six statewide elective offices up for election, four were carried by the Republicans and two by the Democrats. The approximate party strength at this election, as expressed by the vote for Governor, was: Republicans 665,000; Democrats 656,000; Social Democrats 23,000; Prohibition 20,000; Socialist Labor 16,000; and Liberal Democrats 2,000.

The Legislature met for the regular session at the State Capitol in Albany on January 7, 1903; and adjourned on April 23.

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