Allows the alteration or repeal of real property tax exemptions for private institutions of higher education

This bill amends the state constitution to allow state legislatures to alter or repeal property tax exemptions specifically for private colleges and universities. Currently, exemptions for religious, educational, and charitable properties are protected, but this change removes that protection for private higher education institutions. It would enable lawmakers to modify or eliminate tax breaks on property owned by these schools, unlike other exempt properties. The change affects private institutions of higher education directly by making their tax exemptions subject to legislative action.