D.C. Law 24-225. Tax Abatements For Affordable Housing in High-Need Areas Temporary Amendment Act of 2022.

AN ACT

To amend, on a temporary basis, section 47-860 of the District of Columbia Official Code to permit real property designated by the Mayor as eligible for tax abatement to be abated annually up to the amount certified by the Mayor.

BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "Tax Abatements For Affordable Housing in High-Need Areas Temporary Amendment Act of 2022".

Sec. 2. Section 47-860(a) of the District of Columbia Official Code is amended by striking the phrase "abated for the period" and inserting the phrase "abated annually only up to the amount certified by the Mayor (subject to increases as authorized by subsection (b)(3) of this section) for the period" in its place.

Sec. 3. Fiscal impact statement.

The Council adopts the fiscal impact statement of the Budget Director as the fiscal impact statement required by section 4a of the General Legislative Procedures Act of 1975, approved October 16, 2006 (120 Stat. 2038; D.C. Official Code § 1-301.47a).

Sec. 4. Effective date.

(a) This act shall take effect following approval by the Mayor (or in the event of veto by the Mayor, action by the Council to override the veto), a 30-day period of congressional review as provided in section 602(c)(l) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Official Code § 1-206.02(c)(1)), and publication in the District of Columbia Register.

(b) This act shall expire after 225 days of its having taken effect.