Plain English Breakdown
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Extension for Nonprofit Housing at 4111 Kansas Avenue NW
This act extends the recertification timeline for a nonprofit housing property owned by SOME, Inc., and forgives real property taxes paid since May 2022.
What This Bill Does
- Extends the time SOME, Inc. has to meet requirements for its nonprofit workforce housing property at 4111 Kansas Avenue NW from the standard period to 48 months after acquiring it.
- Forgives and refunds any real property taxes paid on this property since May 21, 2022.
Who It Names or Affects
- SOME, Inc., which owns the real estate in question.
- The District of Columbia government, as it will be responsible for refunding taxes.
Terms To Know
- Nonprofit workforce housing
- Housing that is intended to provide affordable living options for low-income workers and is managed by a nonprofit organization.
- Recertification requirements
- Conditions that must be met periodically to maintain the status of a property as a nonprofit workforce housing unit.
Limits and Unknowns
- The act only applies to one specific property and does not affect other properties or tax policies.
- It is unclear how much in taxes will be refunded until calculations are completed.