The Mu Lambda Foundation, Inc. Real Property Tax Exemption Amendment Act of 2026 amends Chapter 10 of Title 47 of the District of Columbia Official Code to provide a real property tax exemption for the property located at 2405 First Street, NW, known as Lot 157, Square 3127. The exemption will be effective from October 1, 2025, to September 30, 2055, as long as the property is owned by Mu Lambda Foundation, Inc. and is used for charitable and educational purposes, without any commercial use. The new section 47-1099.17 is added to the code to formalize this exemption.

Additionally, the tax exemption granted under this act is stated to be supplementary to any other tax relief or assistance that may be available to Mu Lambda Foundation, Inc. The act will take effect following the Mayor's approval and a 30-day congressional review period, as outlined in the District of Columbia Home Rule Act. The bill includes a fiscal impact statement that has been adopted from the committee report.