The Reservoir District Tax Exemption Emergency Amendment Act of 2026 aims to amend Chapter 46 of Title 47 of the District of Columbia Official Code to designate certain properties as affordable housing, which will be subject to Fair Market Rents as determined by the U.S. Department of Housing and Urban Development (HUD). The bill includes a reorganization of sections within the code, specifically redesignating sections 47-4683 and 47-4684. Additionally, it amends section 47-4683(b)(2) to require that one-third of the operating rental housing units in the designated property be set aside as affordable, in accordance with federal income limits.

The affordable units will be available to households that qualify for the 80 Percent Income Limit Category of the Multifamily Tax Subsidy Project Income Limits for the Washington-Arlington-Alexandria HUD Metro Fair Market Rent Area. This act will take effect upon approval by the Mayor and will remain in effect for a maximum of 90 days, in line with the emergency provisions of the District of Columbia Home Rule Act.