Establishes the city of New York education fund

This bill establishes a dedicated "City of New York Education Fund" by imposing an additional 1% real property tax on all properties within New York City (population over 1 million). The fund, managed jointly by the mayor and tax commissioner, must keep its revenue separate from other city funds and use it alongside existing city budget allocations to support education programs. It directly affects New York City property owners through the new tax obligation. The fund's revenue stream and separation requirement are the key mechanisms driving the policy change.