D.C. Law 22-81. East End Commercial Real Property Tax Rate Reduction Amendment Act of 2018.
AN ACT
To amend section 47-812 of the District of Columbia Official Code to lower the real property tax rate for Class 2 Properties located east of the east bank of the Anacostia River.
BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "East End Commercial Real Property Tax Rate Reduction Amendment Act of 2018".
Sec. 2. Section 47-812 of the District of Columbia Official Code is amended by adding a new subsection (b-11) to read as follows:
"(b-11)(1) Notwithstanding the provisions of subsection (a) of this section and except as provided in paragraph (2) of this subsection, the real property tax rates and special real property tax rates for taxable Class 2 Properties located east of the east bank of the Anacostia River ("region") shall be:
"(A) For the tax year beginning October 1 after the applicability date of this subsection, and each tax year thereafter for 10 years, equal to the real property tax rate for Class 1 Properties; and
"(B) For the tax year beginning 11 years after the applicability date of this subsection, increased by $0.04 annually until the tax rate is equal to the District's standard real property tax rate for Class 2 Properties.
"(2)(A) Paragraph (1) of this subsection shall not apply to any TIF area in the region.
"(B) For the purposes of this subsection, the term "TIF area" shall have the same meaning as provided in § 2-1217.01(31).".
Sec. 3. Applicability.
(a) This act shall apply upon the date of inclusion of its fiscal effect in an approved budget and financial plan.
(b) The Chief Financial Officer shall certify the date of the inclusion of the fiscal effect in an approved budget and financial plan, and provide notice to the Budget Director of the Council of the certification.
(c)(1) The Budget Director shall cause the notice of the certification to be published in the District of Columbia Register.
(2) The date of publication of the notice of the certification shall not affect the applicability of this act.
Sec. 4. Fiscal impact statement.
The Council adopts the fiscal impact statement in the committee report as the fiscal impact statement required by section 4a of the General Legislative Procedures Act of 1975, approved October 16, 2006 (120 Stat. 2038; D.C. Official Code § 1-301.47a).
Sec. 5. Effective date.
This act shall take effect following approval by the Mayor (or in the event of veto by the Mayor, action by the Council to override the veto), a 30-day period of congressional review as provided in section 602(c)(1) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Official Code § 1-206.02(c)(1)), and publication in the District of Columbia Register.
