Repeals the tax exempt status of private universities that receive real property tax exemptions of one hundred million dollars or more

Summary

The bill ends the property‑tax exemption for private higher‑education institutions that received $100 million or more in tax breaks in the previous fiscal year. Those taxes would then be collected and earmarked for the City University of New York, with a safeguard that CUNY’s other state funding cannot be reduced because of the new revenue. It aims to shift public resources from large private schools to the state university system.

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