BILL NUMBER: S1419
SPONSOR: LIU
 
TITLE OF BILL:
CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY proposing an amendment
to section 1 of article 16 of the constitution, in relation to real
property tax exemptions for educational institutions
 
SUMMARY OF PROVISIONS:
Section 1 amends section 1 of article 16 of the constitution to allow
alterations to or repeals of real or personal property tax exemptions
used exclusively by private institutions of higher education.
Section 2 clarifies how this act will conform to the requirements for
amending the constitution, set forth in article 19 of the constitution.
 
JUSTIFICATION:
Private universities benefit from tax-exempt status under New York State
law and thus do not pay property taxes. As some large institutions of
higher education have acquired substantial amounts of property, this
deprives our tax base of significant revenue that funds critical govern-
ment services.
This concurrent resolution would allow for the alteration or repeal of
that tax-exempt status, unlocking much needed tax revenue for New York-
ers.
 
LEGISLATIVE HISTORY:
01/29/24 OPINION REFERRED TO JUDICIARY
12/11/23 TO ATTORNEY-GENERAL FOR OPINION
 
FISCAL IMPLICATIONS:
None