Bill Summary – FastDemocracy

ENROLLED ORIGINAL

                                             AN ACT

                                          ____________

                    IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

                                   ________________________

To amend, on an emergency basis, the Business Improvement Districts Act of 1996 to revise the

      tax rates of assessment for property owners in and to revise the residential tax rate for

      residential members of the Golden Triangle Business Improvement District.

       BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this

act may be cited as the “Golden Triangle Business Improvement District Emergency

Amendment Act of 2023”.

        Sec. 2. Section 202(c)(2) of the Business Improvement Districts Act of 1996, effective

March 17, 2005 (D.C. Law 15-257; D.C. Official Code § 2-1215.52(c)(2)), is amended by

adding a new subparagraph (E) to read as follows:

                        “(E) For tax year 2024 and thereafter:

                                “(i)(I) Nineteen cents for each net rentable square foot of improved

Class 2 Property and Class 3 Property, excluding hotels, for any property for which the owner is

required to report net rentable area to the Office of Tax and Revenue or for which the Office of

Tax and Revenue has records indicating the net rentable area of the property.

                                         “(II) Net Rentable square feet shall be the number of net

rentable square feet reported to, or on record with, the Office of Tax and Revenue;

                                “(ii)(I) Nineteen cents for each equivalent net rentable square foot

of improvements of improved Class 2 Property and Class 3 Property, excluding hotels, for any

property for which the owner is not required to report net rentable area to the Office of Tax and

Revenue and for which the Office of Tax and Revenue maintains no record of net rentable area.

                                         “(II) Equivalent net rentable area shall be 90% of the gross

building area;

                                “(iii)(I) Sixteen cents for each equivalent net rentable square foot

of improvements of hotels.

                                         “(II) Equivalent net rentable areas shall be 90% of the

gross building area; and

                                “(iv) The amount of $163 per residential unit annually for

nonexempt residential properties; provided, that for a residential unit restricted to residents based

upon income pursuant to a federal or District affordable housing program, which the BID shall

identify and certify as such, the BID tax due on the unit shall be computed by applying the

                                                                      ENROLLED ORIGINAL

percentage of area median income that an eligible household must meet to participate in the

affordable housing program for the unit to the amount of the BID tax that would otherwise be

due.”.

       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.

       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), and shall remain in effect for no longer than

90 days, as provided for emergency acts of the Council for the District of Columbia in section

412(a) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 788;

D.C. Official Code § 1-204.12(a)).

               ______________________________

               Chairman

               Council of the District of Columbia

_________________________________

Mayor

District of Columbia