The New York Times reports that Assembly Speaker Sheldon Silver is expected to be arrested on corruption charges today in connection with an investigation into his outside income.

The speaker’s attorney, Joel Cohen, declined to comment to the NYT. There has been no word so far from Silver’s press office. The Assembly is scheduled to be in session late this morning. The Democrats are expected to conference behind closed doors at 10 a.m.

The exact charges that the speaker will face remain unclear, though federal investigators have been looking into his work with Goldberg & Iryami, a Manhattan firm that specializes in challenging real estate assessments.

The speaker didn’t report the firm on his state financial disclosure form, citing only his role as “of counsel” to the personal-injury law firm, Weitz & Luxenberg.

If this report is true, it will throw the 2015 legislative session, which just got underway with Gov. Andrew Cuomo’s delivery of his State of the State/budget address yesterday, into chaos. There is no clear successor to Silver, who was just re-elected to a second two-year term as speaker and is the longest-serving legislative leader in Albany.

It’s possible the Assembly Democrats will elect a caretaker speaker to get them through this session – someone like Codes Committee Chairman Joe Lentol, of Brooklyn, or Ways and Means Committee Chairman Denny Farrell Jr., of Manhattan – both veteran members of the chamber (and close Silver allies).

There will likely be a significant battle for the speakership, should the position indeed become vacant. Though Silver has had his share of problems – from the spate of sexual harassment scandals to the recent NYT reports on the US attorney’s probe into his unreported work for a small Manhattan law firm – no lawmakers have been seriously trying to put together a coalition of support to oust him.

Members mentioned in the past as potential Silver replacements include:

– Assemblyman Keith Wright, the Housing Committee chairman, current Manhattan Democratic chair and former NYS Democratic chair. (He’s also interested in moving on, and has opened an exploratory committee for a potential 2016 run for the seat veteran Harlem Rep. Charlie Rangel says he’ll vacate at the end of this two-year term).

– Assemblyman Carl Heastie, the Bronx Democratic chairman.

– Assembly Majority Leader Joe Morelle, of Rochester. (This is unlikely since an upstater would have a tough time getting elected as head of the downstate-domionated conference, and Morelle is also close to Cuomo, which could be perceived as a detriment by his colleagues).

Silver was in Albany yesterday and sat on the stage in the Empire State Convention Center for Cuomo’s big speech.

He was taciturn as ever, showing absolutely no sign of the potential trouble ahead. He even spoke with reporters, questioning the legality of the two-tiered legislative compensation system that the governor floated in his 2015 Opportunity Agenda.