A11160 • 2025

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

Taxes

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The official status still shows this bill as active or still awaiting another formal step.

Sponsor: Claire Valdez
Last action: 2026-04-28
Official status: In Assembly Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

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

Repeals the tax exempt status of private universities that receive real property tax exemptions of one hundred million dollars or more Repeals the tax exempt status of private universities that received real property tax exemptions of one hundred million dollars or more during the prior fiscal year.

What This Bill Does

Repeals the tax exempt status of private universities that receive real property tax exemptions of one hundred million dollars or more Repeals the tax exempt status of private universities that received real property tax exemptions of one hundred million dollars or more during the prior fiscal year.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-04-28 Assembly
REFERRED TO REAL PROPERTY TAXATION

Official Summary Text

Repeals the tax exempt status of private universities that receive real property tax exemptions of one hundred million dollars or more
Repeals the tax exempt status of private universities that received real property tax exemptions of one hundred million dollars or more during the prior fiscal year.

Current Bill Text

Read the full stored bill text

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          11160

                                  I N  A S S E M B L Y

                                     April 28, 2026
                                       ___________

        Introduced by M. of A. VALDEZ -- read once and referred to the Committee
          on Real Property Taxation

        AN  ACT to amend the real property tax law, in relation to repealing the
          tax exempt status of  educational  institutions  costing  one  hundred
          million dollars or more a year in real property tax exemptions

          THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section 1. Subdivision 1 of section 420-a of the real property tax law
     2  is amended by adding a new paragraph (c) to read as follows:
     3    (C) (I) REAL PROPERTY OWNED BY A CORPORATION OR ASSOCIATION  ORGANIZED
     4  OR  CONDUCTED  EXCLUSIVELY  FOR EDUCATIONAL PURPOSES, AND WHICH HAS BEEN
     5  USED EXCLUSIVELY FOR EDUCATIONAL PURPOSES,  SHALL  NOT  BE  EXEMPT  FROM
     6  TAXATION  PURSUANT TO PARAGRAPH (A) OF THIS SUBDIVISION IF THE AMOUNT OF
     7  REAL PROPERTY TAXES EXEMPTED FOR SUCH PROPERTY DURING THE  PRIOR  FISCAL
     8  YEAR COSTS ONE HUNDRED MILLION DOLLARS OR MORE.
     9    (II)  MONEYS  FROM  PROPERTY TAXES IMPOSED ON PRIVATE HIGHER EDUCATION
    10  FACILITIES PURSUANT TO SUBPARAGRAPH (I) OF THIS PARAGRAPH SHALL BE  USED
    11  FOR  THE  CITY  UNIVERSITY  OF  NEW  YORK, AS ESTABLISHED BY ARTICLE ONE
    12  HUNDRED TWENTY-FIVE OF THE EDUCATION LAW.
    13    (III) MONEYS RECEIVED PURSUANT TO SUBPARAGRAPH (I) OF  THIS  PARAGRAPH
    14  SHALL SUPPLEMENT ANNUAL STATE FUNDING TO THE CITY UNIVERSITY OF NEW YORK
    15  AND  THE  GOVERNOR  SHALL NOT REDUCE OTHER STATE FUNDING ACCOUNTS TO THE
    16  CITY UNIVERSITY OF NEW YORK IN RESPONSE TO MONEYS RECEIVED  PURSUANT  TO
    17  SUBPARAGRAPH (I) OF THIS PARAGRAPH.
    18    §  2.  This  act  shall  take  effect on the same date as a concurrent
    19  resolution amending the constitution, entitled "CONCURRENT RESOLUTION OF
    20  THE SENATE AND ASSEMBLY proposing an amendment to section 1  of  article
    21  16  of the constitution, in relation to real property tax exemptions for
    22  educational institutions", takes effect.


         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00354-02-5