For the time being. The general membership could change the decision.
To be a planet, IAU says:
Q: What is the exact wording of the official IAU proposed definition of "planet" in "Resolution 5 for GA-XXVI"?
"A planet is a celestial body that (a) has sufficient mass for its self-gravity to overcome rigid body forces so that it assumes a hydrostatic equilibrium (nearly round) shape, and (b) is in orbit around a star, and is neither a star nor a satellite of a planet."
In addition to Pluto, three other objects have now been upgraded to planetarty status: Ceres, an asteroid between Mars and Jupiter; Charon, a moon of Pluto; and UB313, which is nicknamed "Xena", but will now get a more fitting name.
Charon qualifies as a planet because its center of gravity is between it and Pluto. The Earth's moon has its center of gravity inside the Earth.