§ 47-1010.01. Real property tax exemption.

Current through October 23, 2012

(a) That portion of real property designated as Lots 37, 40, 824-825, 829-832, 859, 880-882, 887, 890, and 892 in Square 677 in the District of Columbia that is used to secure a rent or income from a tenant that is exempt from federal income taxation under § 501(a) of the Internal Revenue Code of 1986 as an organization described in § 501(c)(3), (c)(4), (c)(5), or (c)(6) of the Internal Revenue Code of 1986, and that occupies space in the improvements, shall be afforded real property tax relief.

(b) That portion of real property designated as Lots 45, 49, 51, 834-842, 869- 871, 883, 888-889, 891, 893, and 895-896 in Square 677 in the District of Columbia that is used to secure a rent or income from a tenant that is exempt from federal income taxation under § 501(a) of the Internal Revenue Code of 1986 as an organization described in § 501(c)(3), (c)(4), (c)(5), or (c)(6) of the Internal Revenue Code of 1986, and that occupies space in the improvements, shall be afforded real property tax relief.

(c) Subject to the provisions of subsection (d) of this section, the real property tax relief granted by subsections (a) and (b) of this section shall apply only during the time that:

(1) The real property is owned by the Center for Public Administration and Service, Inc., or its successors or assigns; and

(2) The improvements to be constructed on either the land described in subsection (a) of this section or the land described in subsection (b) of this section are used as the headquarters of the Metropolitan Washington Council of Governments, the International City Management Association, and the International City Management Association Retirement Corporation.

(d) The real property tax relief granted by subsections (a) and (b) of this section shall consist of:

(1) An exemption from real property taxation from the date of acquisition of the land by the Center for Public Administration and Service, Inc., or its successors or assigns, until the completion of the fifth real property tax year beginning after the date of issuance of the final certificate of occupancy for the improvements to be constructed on the land; and

(2) A 50% reduction in the real property tax from the completion of the fifth real property tax year beginning after the date of issuance of the final certificate of occupancy for the improvements to be constructed on the land until the completion of the tenth real property tax year beginning after the date of issuance of the final certificate of occupancy.

(e) The provisions of §§ 47-1005, 47-1007, and 47-1009 shall apply with respect to the real property tax relief granted by this section.

(f) The Mayor shall, pursuant to subchapter I of Chapter 5 of Title 2, issue rules to implement the provisions of this section.

                
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(Dec. 24, 1942, ch. 826, § 8, as added May 24, 1988, D.C. Law 7-125, § 2, 35 DCR 2878; July 26, 1989, D.C. Law 8-17, § 11, 36 DCR 4160; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 47-1010.1.

Legislative History of Laws

Law 7-125, the "Center for Public Administration and Service, Inc., Real Property Tax Exemption Act of 1988," was introduced in Council and assigned Bill No. 7-279, which was referred to the Committee on Finance and Revenue. The Bill was adopted on first, amended first and second readings on March 1, 1988, March 15, 1988 and March 29, 1988, respectively. Signed by the Mayor on April 7, 1988, it was assigned Act No. 7-172 and transmitted to both Houses of Congress for its review.

Law 8-17, the "Revenue Amendment Act of 1989," was introduced in Council and assigned Bill No. 8-224, which was referred to the Committee on Finance and Revenue. The Bill was adopted on first and second readings on May 2, 1989 and May 16, 1989, respectively. Signed by the Mayor on May 26, 1989, it was assigned Act No. 8-34 and transmitted to both Houses of Congress for its review.

References in Text

Section 501 of the Internal Revenue Code of 1986, referred to in (a) and (b), is codified as 26 U.S.C. § 501.