Plain English Breakdown
The official text states the act takes effect following a 30-day congressional review period, but does not specify if this has been completed or when it will be.
Tax Forgiveness and Timeline Extension for Two Specific Properties in Washington, D.C.
This law forgives property taxes, recordation taxes, interest, and penalties paid on two specific buildings if they meet nonprofit workforce housing requirements by set deadlines.
What This Bill Does
- Requires the Office of Tax and Revenue to certify that properties at 2607 Connecticut Avenue NW and 4111 Kansas Avenue NW meet rules for Nonprofit Workforce Housing tax exemptions under D.C. Official Code §47-1005.03(b).
- Forgives all real property taxes, recordation taxes, interest, and penalties assessed on these addresses starting from specific past dates if certification is granted.
- Refunds money already paid to the person who made those payments once the properties are certified as eligible.
- Sets a deadline of September 30, 2026, for the Connecticut Avenue property to meet all requirements.
- Allows up to 48 months after SOME Inc. acquired the Kansas Avenue property for it to meet all requirements.
Who It Names or Affects
- The owners or payers of taxes on the building at 2607 Connecticut Avenue NW (Lot 151, Square 2204).
- SOME Inc., which acquired the property at 4111 Kansas Avenue NW (Lots 2001 through 2045 in Square 2910).
- The Office of Tax and Revenue, which must certify that the properties meet legal requirements.
- The Chief Financial Officer and Budget Director, who handle budget approvals and public notices for this act.
Terms To Know
- Nonprofit Workforce Housing
- A type of housing that qualifies for tax breaks under District law if it meets specific rules about ownership and use by nonprofit groups as defined in D.C. Official Code §47-1005.03(b).
- Recordation taxes
- Fees paid to the government when a property is bought or sold, which are included in this forgiveness along with regular property taxes.
Limits and Unknowns
- The total refund for the Connecticut Avenue property cannot exceed $506,627.
- Section 3 regarding the Kansas Avenue property only applies after its cost is included in an approved budget and financial plan.
- This act takes effect following approval by the Mayor (or a veto override) and a required 30-day period of congressional review.