ALBANY — New York Senate Democratic leader Malcolm Smith said Thursday he will create a Latino caucus in his conference, addressing one concern of the so-called “Gang of Four” Democrats who threaten the party’s newly won majority in the chamber.

But a Republican said one of the four potential renegades was also scheduled to meet with Senate Republican leader Dean Skelos later on Thursday. The Republican, close to Skelos and familiar with the dinner meeting plan, spoke on the condition of anonymity because Skelos hasn’t publicly confirmed the meeting.

Democratic Sen. Pedro Espada Jr. was set to meet with Skelos in Puerto Rico, during the annual winter conference of New York’s Hispanic legislators.

Smith also said he has not yet decided which senators he will appoint to committee chairmanships and other leadership posts that come with lucrative stipends and the power to steer legislation.

The issue of defecting to preserve Republicans control of the Senate comes as the conference is trying to propose spending cuts and revenue-makers for a Nov. 18 emergency legislative session called by Gov. David Paterson to address state deficits caused by a recession, Wall Street’s meltdown and years of overspending. Paterson has tried to focus the Legislature’s attention on the historic fiscal crisis.

The dissident Democratic senators are Espada and Ruben Diaz Sr., both of the Bronx; Carl Kruger of Brooklyn; and Hiram Monserrate of Queens. On Wednesday, they didn’t attend Smith’s first meeting since winning a 32-30 majority in Tuesday’s elections. In that meeting, the other senators supported Smith to lead the conference come Jan. 1.

“We’ve welcomed, in the past, Democratic senators — senators Espada, (former Sen. Olga) Mendez — and we would welcome that in the future,” said Skelos spokesman John McArdle.

Jude Englemayer, spokesman for the four senators, said he heard of the Skelos meeting plans, but couldn’t confirm the session. He wouldn’t comment further.

Smith said a Latino caucus in his Democratic conference will include about five lawmakers and, like other caucuses of black and women senators, will develop and advance legislation on their particular issues.

“They are Democrats,” Smith said in an interview Thursday. “None of them have said anything different.”

In 2002, Espada threatened to switch to the Republican party. Although he didn’t, he did sit with — and support — the Senate Republican majority. In this year’s Democratic primary, Espada won back his Bronx seat by beating incumbent Sen. Efrain Gonzales Jr., who was backed by Smith and the Democrats.

Kruger of Brooklyn became the first Democrat given a committee chairmanship by the Republican majority when he took the post in 2007, along with its $12,500 stipend. And Diaz, a minister who is far more conservative on social issues than most of his Democratic colleagues, ran as a Democrat and Republican Tuesday.

“I’ve worked with each one of them even in the last election cycle,” Smith said. “They were all very helpful.”