Plain English Breakdown
The official source material did not provide specific details about the fiscal impact or the exact wording of the new section in Chapter 8, which was mentioned in the candidate explanation.
Society for Science Real Property Tax Exemption Amendment Act
This act amends laws to provide real property tax exemptions on specific properties owned by or being sold to Society for Science, Inc.
What This Bill Does
- Adds a new section in Chapter 10 of Title 47 of the District of Columbia Official Code.
- Provides real property tax exemption for specific properties located at three addresses in Washington D.C. that are owned by or being sold to Society for Science, Inc.
Who It Names or Affects
- Society for Science, Inc.
- The District of Columbia government
Terms To Know
- Real Property Tax Exemption
- A law that allows certain properties to be exempt from paying real property taxes.
- Chapter 10 of Title 47
- The section in the District of Columbia Official Code that deals with specific tax exemptions for organizations like Society for Science, Inc.
Limits and Unknowns
- This act only applies to specific properties owned by or being sold to Society for Science, Inc. and does not affect other organizations.
- It is not clear how much money this exemption will cost the government.