New York A 11160: Repeals the tax exempt status of private universities that receive real property tax exemptions of one hundred million dollars or more

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A11160 Summary:

BILL NOA11160 

&nbsp

SAME ASSAME AS S01053

&nbsp

SPONSORValdez

&nbsp

COSPNSRLee

&nbsp

MLTSPNSR

&nbsp

Amd §420-a, RPT L

&nbsp

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.

Go to top A11160 Actions:

BILL NOA11160 

&nbsp

04/28/2026referred to real property taxation

Go to topA11160 Committee&nbspVotes:

Go to topA11160 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA11160 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 11160

 IN ASSEMBLY

 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

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