Repeals tax exemption for private universities with over $100 million in real property tax exemptions.

This bill repeals the tax-exempt status 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 used for the City University of New York. The bill amends the real property tax law to include this change.

Repeals tax exemption for private universities with over $100 million in real property tax exemptions.

This bill repeals the tax-exempt status 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 used for the City University of New York. The bill amends the real property tax law to include this change.