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.

This bill proposes to remove the tax-exempt status for private universities that received over $100 million in real property tax exemptions in the previous fiscal year. If passed, these universities would be required to start paying property taxes. The aim is to ensure that large private institutions contribute to local tax revenues.

Supporters of the bill argue that it promotes fairness in the tax system by holding wealthy private universities accountable for their financial benefits. They believe that these institutions should contribute to the communities they are part of, especially when they receive substantial tax exemptions. This change could help fund local services and support public education.

Critics of the bill contend that it unfairly targets private universities, which often provide significant public benefits, including scholarships and community services. They argue that stripping tax exemptions could harm these institutions financially, leading to increased tuition costs and reduced access for students. Additionally, opponents fear it could set a precedent for further tax burdens on educational institutions.