Plain English Breakdown
The official status label provided in metadata says 'Enacted,' but the digest text notes the act is still 'Under Congressional Review.' The effective date depends on this review period completing.
Reservoir District Tax Exemption Temporary Amendment Act of 2026
This law temporarily requires that one-third of the rental units in a specific property within the Reservoir District be set aside as affordable housing for households meeting certain income limits.
What This Bill Does
- Amends Chapter 46 of Title 47 of the D.C. Official Code to update tax exemption details regarding a specific property.
- Requires setting aside one-third of operating rental units in the Property as affordable housing.
- Defines affordability using Fair Market Rents calculated by the U.S. Department of Housing and Urban Development (HUD).
- Limits eligibility for these units to households qualifying under the 80 Percent Income Limit Category for the Washington-Arlington-Alexandria, DC-VA-MD HUD Metro area.
- Sets an expiration date so this law ends after it has been in effect for 225 days.
Who It Names or Affects
- The Property located within the Reservoir District tax exemption area.
- Households seeking rental housing that qualify under specific federal income limits defined by HUD.
Terms To Know
- Fair Market Rents
- Rental rates calculated by HUD for a specific geographic area used to determine affordable rent levels.
- 80 Percent Income Limit Category
- A group of households whose income is at or below 80 percent of the median income for their region, as defined by HUD guidelines.
Limits and Unknowns
- The law only lasts for 225 days after it takes effect and then expires.
- The exact start date depends on approval steps including a 30-day congressional review period following the Mayor's action, which are not specified as calendar dates in this text.