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NY A02130
Bill
Status
1/15/2025
Primary Sponsor
Zohran Kwame Mamdani
Click for details
AI Summary
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Removes real property tax exemptions for educational institutions whose exemptions cost $100 million or more annually during the prior fiscal year
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Directs all property tax revenue collected from these newly-taxed private higher education facilities to the City University of New York (CUNY)
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Requires that funds received from these property taxes supplement CUNY's existing state funding, prohibiting the governor from reducing other state funding to CUNY in response
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Takes effect only upon passage of a concurrent constitutional amendment resolution regarding real property tax exemptions for educational institutions
Legislative Description
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.
Last Action
enacting clause stricken
1/5/2026