New York S 1053: 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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S01053 Summary:

BILL NOS01053 

&nbsp

SAME ASSAME AS A11160

&nbsp

SPONSORLIU

&nbsp

COSPNSRBRISPORT, CLEARE, FERNANDEZ, SALAZAR

&nbsp

MLTSPNSR

&nbsp

Amd §420-a, RPT L

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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 S01053 Actions:

BILL NOS01053 

&nbsp

01/08/2025REFERRED TO LOCAL GOVERNMENT

01/07/2026REFERRED TO LOCAL GOVERNMENT

Go to topS01053 Committee&nbspVotes:

Go to topS01053 Floor&nbspVotes:

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

Go to topS01053 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1053

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sens. LIU, BRISPORT, CLEARE, SALAZAR -- read twice and
 ordered printed, and when printed to be committed to the Committee on
 Local Government

 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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