The bill titled "Mu Lambda Foundation, Inc. Real Property Tax Exemption Act of 2025" aims to amend Chapter 10 of Section 47 of the District of Columbia Official Code to grant a real property tax exemption for the property located at 2405 First Street, NW, owned by Mu Lambda Foundation, Inc. The proposed legislation includes the addition of a new section, 47-1099.15, which specifies that the property will be exempt from taxes imposed by Chapter 8 of the title for a period of 30 years, starting from January 1, 2025, to January 1, 2055, as long as it remains under the ownership of the Mu Lambda Foundation, Inc.

Additionally, the bill clarifies that this tax exemption is supplementary to any other tax relief or assistance that may be available to the foundation from other sources. The bill will take effect following the Mayor's approval, a 30-day congressional review period, and publication in the District of Columbia Register.