Plain English Breakdown
The bill explicitly states that this exemption is 'in addition to' other tax relief, so uncertainty about stacking exemptions was removed.
Tax Exemption for Alpha Omega Social Action and Scholarship Foundation
This bill removes property taxes for a specific building owned by the Alpha Omega Social Action and Scholarship Foundation if it is used only for charity or education.
What This Bill Does
- Creates a new tax exemption rule in District of Columbia law for Lot 813, Square 2853 at 1231 Harvard Street NW.
- Removes property taxes on the building and any improvements if Alpha Omega Social Action and Scholarship Foundation owns it.
- Requires that the property be used only for charitable or educational purposes to keep the tax break.
- Forbids using the property for commercial business activities while under this exemption.
- Forgives all unpaid property taxes, interest, penalties, fees, and other related charges from October 1, 2018 through September 30, 2026.
- Orders refunds of any tax payments made before the law takes effect within 45 days.
Who It Names or Affects
- Alpha Omega Social Action and Scholarship Foundation
- The owner or user of Lot 813, Square 2853 at 1231 Harvard Street NW
Terms To Know
- Real property tax exemption
- A rule that says a specific building does not have to pay taxes on its value.
- Commercial purposes
- Using the building for business activities like selling goods or services for profit.
Limits and Unknowns
- The bill does not take effect until after approval by the Mayor, a review period by Congress, and publication in an official register.
- The text does not state how much money will be saved or refunded to the foundation.