The Soul of the City Business Improvement District Amendment Act of 2026 amends the Business Improvement Districts Act of 1996 to establish the Soul of the City Business Improvement District (BID). This new BID will encompass a specific geographic area as defined by the Mayor and will impose taxes on nonexempt real properties within that area, effective from April 1, 2026, until the BID is dissolved or the act expires. The bill outlines the boundaries of the BID, which includes numerous lots across various squares, and specifies the tax rates for different property classes, including residential and hotel properties.

Additionally, the bill provides exemptions from the BID tax for certain properties, such as those that have undergone significant safety-related improvements or are designated as affordable housing. It also allows for a 3% annual increase in BID taxes. The act will take effect following the Mayor's approval and a 30-day congressional review period.