(a) The property, real and personal, of Howard University and its subsidiaries shall be exempt from taxation so long as such property is used for the purposes set forth in the charter of the University, or for uses consistent with the educational, social, and community-oriented mission of Howard University and its subsidiaries, including for academic uses, dormitory facilities, and healthcare facilities notwithstanding that any real estate used for such purposes is leased by the University or a subsidiary to an entity exempt from tax under section 501(c)(3) of the Internal Revenue Code of 1986 or sold or contracted to be sold by the University or a subsidiary, the title to which may be in the name of the subsidiary.
(b) For the purposes of this section, the term "subsidiary" means a wholly owned entity of Howard University that would be entitled to an exemption under § 47-1002(31).
