Sheldon Silver has decided to resign as speaker of the state Assembly.

A spokesperson told NY1 that Silver has submitted a letter of resignation effective as of 11:59 p.m. Monday.

The spokesperson said Silver will remain a member of the Assembly.

Silver was told by Assembly Democrats that if he did not resign by Monday, he would be removed from his post.

He is facing federal corruption charges.

Assemblyman Carl Heastie of the Bronx is currently viewed as the front-runner to succeed Silver as speaker.

On Tuesday, Democrats set up an election for speaker on February 10. Lawmakers are now revising that and say they may hold that election on Monday or Tuesday of next week.