The 1333 M Street, SE Tax Abatement Amendment Act of 2025 aims to provide a real property tax abatement for the property located at 1333 M Street, SE, known for tax assessment purposes as Lot 2, Square 1048, Suffix-S. The bill allows for an annual tax abatement for 15 consecutive tax years starting October 1, 2029, equal to the amount of real property taxes assessed over $150,000 per year. The abatement is contingent upon the developer, FRF Land Owner LLC, meeting specific conditions, including reserving a minimum of 12% of the residential gross floor area for inclusionary units, constructing public space improvements, and making monetary contributions to local community organizations.

Additionally, the bill outlines the process for the developer to provide necessary information to the Mayor to determine eligibility for the abatement each tax year. The Mayor must certify the property's eligibility to the Office of Tax and Revenue by December 31 of each tax year. The abatement is designed to be in addition to any other tax relief or assistance applicable to the project and does not restrict the developer from utilizing other economic incentives. The act will take effect following approval by the Mayor and a 30-day congressional review period.