New York A11160 repeals tax exemptions for private universities receiving over $100 million in real property tax exemptions annually.

New York A11160 amends the real property tax law to remove tax exemptions for private universities that received over $100 million in real property tax exemptions during the prior fiscal year. The revenue generated from taxing these properties will be allocated to the City University of New York, supplementing its annual state funding. The bill ensures that the governor cannot reduce other state funding to the City University of New York in response to these new revenues.

New York A11160 repeals tax exemptions for private universities receiving over $100 million in real property tax exemptions annually.

New York A11160 amends the real property tax law to remove tax exemptions for private universities that received over $100 million in real property tax exemptions during the prior fiscal year. The revenue generated from taxing these properties will be allocated to the City University of New York, supplementing its annual state funding. The bill ensures that the governor cannot reduce other state funding to the City University of New York in response to these new revenues.