Allows the alteration or repeal of real property tax exemptions for private institutions of higher education

Summary

The bill revises Article 16, Section 1 of the New York Constitution so that tax exemptions for real or personal property used exclusively by private institutions of higher education can be altered or repealed. Exemptions for religious, charitable and other non‑profit educational entities remain protected. This gives the legislature authority to modify tax breaks that currently benefit private colleges.

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