The Soul of the City Business Improvement District Temporary Amendment Act of 2026 aims to establish and administer the Soul of the City Business Improvement District (BID) in the District of Columbia. This act amends the Business Improvement Districts Act of 1996 by adding a new section that outlines the formation of the Soul of the City BID, which will include nonexempt real property within a specified geographic area. The BID will be subject to review and approval by the Mayor, and the taxes imposed will remain in effect until the expiration of the act or the dissolution of the BID.

The bill specifies the tax rates for nonexempt properties within the Soul of the City BID, including a rate of $0.18 per $100 of assessed value for Class 2 properties (excluding hotels), an annual fee of $120 per hotel or motel room, and a $120 annual fee per unit for certain residential properties. Additionally, it provides exemptions for properties that meet specific criteria, such as those restricted for low-income residents or those that have invested significantly in safety-related activities. The act also allows for a 3% annual increase in BID taxes. The act will take effect upon approval by the Mayor and will expire after 225 days.