The Mu Lambda Foundation, Inc. Real Property Tax Exemption Act of 2026 amends Chapter 10 of Section 47 of the District of Columbia Official Code to grant a property tax exemption for the property located at 2405 First Street, N.W., identified as Lot 157, Square 3127. The exemption will be effective from October 1, 2025, to September 30, 2055, provided that the property remains owned by Mu Lambda Foundation, Inc. and is utilized for charitable and educational purposes, without any commercial use. The bill also specifies that this tax exemption is in addition to any other tax relief or assistance the foundation may receive.

The legislation includes the addition of a new section, 47-1099.16, to the code, which outlines the details of the tax exemption. It also amends the table of contents to reflect this new section. The act will take effect following the Mayor's approval, a 30-day congressional review period, and publication in the District of Columbia Register.