The Soul of the City Business Improvement District Emergency Amendment Act of 2026 amends the Business Improvement Districts Act of 1996 to establish and administer the Soul of the City Business Improvement District (BID). This act authorizes the formation of the BID, which will encompass specific nonexempt real properties within a defined geographic area, as approved by the Mayor. The BID taxes will be imposed starting from April 1, 2026, and will remain effective until the act expires or the BID is dissolved. The boundaries of the Soul of the City BID are detailed in the bill, listing numerous lots and squares that will be included.

The bill outlines the tax structure for nonexempt properties within the BID, specifying rates for different property classes, including a tax of $0.18 per $100 of assessed value for Class 2 properties (excluding hotels) and $120 per hotel room annually. Additionally, it provides exemptions for certain residential units based on income and for properties that have invested significantly in safety-related activities. The act also allows for a 3% annual increase in BID taxes. The legislation is set to take effect upon approval by the Mayor and will remain in effect for a maximum of 90 days.