For the purposes of this subchapter, the term:
(1) "Capital lease financings" means a lease in which the District is the lessee and which meets 1 or more of the following criteria:
(A) The lease transfers ownership of the property to the lessee by the end of the lease term;
(B) The lease allows the lessee to purchase the real property at a bargain price;
(C) The term of the lease is 75% or more of the estimated useful economic life of the real property; or
(D) The present value of the lease payments is 90% or more of the fair market value of the real property.
(2) "Committee" means the Capital Review and Debt Affordability Committee.
(3) "Multiyear capital improvements plan" means the multiyear capital improvements plan required by § 1-204.44.
(4) "Special real property tax levy" means that portion of the real property tax levy required by District of Columbia general obligation bonds acts to be deposited in the debt service fund so that, when added to the funds already on deposit in the fund, the fund will be sufficient to pay the principal and interest on all outstanding general obligation bonds and additional general obligation bonds coming due in any year.
(May 24, 1994, D.C. Law 10-126, § 2, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 47-336.
Legislative History of Laws
Law 10-126, the "Capital Review and Debt Affordability," was introduced in Council and assigned Bill No. 10-470, which was referred to the Committee of the Whole. The Bill was adopted on first and second readings on February 1, 1994, and March 1, 1994, respectively. Signed by the Mayor on March 24, 1994, it was assigned Act No. 10-219 and transmitted to both Houses of Congress for its review. D.C. Law 10-126 became effective on May 24, 1994.
(a) There is established a Capital Review and Debt Affordability Committee.
(b) The Committee shall consist of the following 5 members:
(1) One individual appointed by the Mayor; and
(2) The following 4 ex officio members:
(A) The City Administrator;
(B) The Chief Financial Officer;
(C) The Director of the Department of Public Works; and
(D) The Chairman of the Council.
(c) The Chief Financial Officer shall serve as the chairperson of the Committee.
(d) The chairperson shall call meetings of the Committee as needed to perform its duties.
(May 24, 1994, D.C. Law 10-126, § 3, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 47-337.
Legislative History of Laws
For legislative history of D.C. Law 10-126, see Historical and Statutory Notes following § 47-336.
(a) The Committee shall review the size and condition of the District general obligation bonds and capital lease financings on a continuing basis.
(b) On or before August 1 of each year, the Committee shall submit to the Mayor and the Council the Committee's estimate of the total amount of new District general obligation bonds and capital lease financings that prudently may be authorized for the next fiscal year.
(c) In making the estimate the Committee shall consider the following:
(1) The amount of District general obligation bonds and capital lease financings that, during the next fiscal year:
(A) Will be outstanding; and
(B) Will be authorized but unissued;
(2) The capital budget;
(3) The multiyear capital improvements plan;
(4) Projections of debt service and capital lease payment requirements during the next 6 years;
(5) The criteria used by bond rating agencies to judge the quality of issues of District bonds; and
(6) Any other factor that is relevant to the ability of the District to meet its projected debt service and capital lease financings.
(d) The estimate of the Committee is advisory and does not bind the Council or the Mayor.
(e) The Committee may review the capital needs of the District on a continuing basis.
(f) On or before October 1 of each year, the Committee may submit to the Mayor and the Council the Committee's recommended allocation for the following budget year of financing determined under this section for the following capital projects:
(1) Mass Transit Facilities and Equipment;
(2) Public School and Public Education Facilities and Equipment;
(3) Governmental and Public Works Facilities and Equipment;
(4) Administrative Services Facilities and Equipment;
(5) Transportation and Public Works Facilities and Equipment;
(6) Public and Assisted Housing Facilities and Equipment;
(7) Correctional and Public Safety Facilities and Equipment; and
(8) All other capital projects.
(g) In recommending the allocation, the Committee shall consider the following:
(1) A multiyear capital improvements strategy;
(2) The condition and life replacement cycle of the District's infrastructure;
(3) The requirements for sustained economic development;
(4) The availability of matching federal grant funds;
(5) The condition of and need for public and correctional facilities;
(6) Existing contract commitments;
(7) Commitments for regional participation; and
(8) Comprehensive plans for other specific types of capital investment.
(h) The allocation of financing recommended by the Committee is advisory and does not bind the Mayor or the Council.
(May 24, 1994, D.C. Law 10-126, § 4, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 47-338.
Legislative History of Laws
For legislative history of D.C. Law 10-126, see Historical and Statutory Notes following § 47-336.
On or before January 10 of each year, the Mayor shall transmit to the Council a preliminary capital budget for the next fiscal year and a preliminary multiyear capital improvements plan.
(May 24, 1994, D.C. Law 10-126, § 5, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 47-339.
Emergency Act Amendments
For temporary (90-day) addition of § 47-339.1 [1981 Ed.], see §§ 2(d) and 3(d) of the Fiscal Year 2001 Budget Support Second Emergency Amendment Act of 2000 (D.C. Act 13-393, August 14, 2000, 47 DCR 7032).
Legislative History of Laws
For legislative history of D.C. Law 10-126, see Historical and Statutory Notes following § 47-336.
(a)(1) In accordance with §§ 1-204.43 and 1-204.44, the Mayor shall prepare and include in the annual budget a multiyear capital improvements plan for all agencies for all capital projects, which shall include for each capital project a written:
(A) Description of the scope of the project;
(B) Description of the purpose of the project;
(C) Estimated fully-funded cost;
(D) Estimated impact on the operating budget;
(E) Description of its geographic location, including the address and ward; provided, that planning and other studies as set forth in § 1-201.03(8)(A)), or a project established solely to procure capital equipment or information technology equipment, including those projects under the Master Lease program, shall not require a specified location; and
(F) A facility name or identifier, if applicable.
(2)(A) A capital project may include multiple public betterments or improvements only if the public betterments or improvements are:
(i) At more than one location;
(ii) Of similar type or purpose; and
(iii) Do not involve construction of new facilities or substantial rehabilitation of government buildings.
(B) The information listed in paragraph (1) of this subsection shall be separately provided for any public betterment or improvement included as part of a capital project if the cost of the public betterment or improvement is greater than $500,000 or more than 10% of the approved budget for the capital project.
(b)(1) The Mayor shall provide the information required by subsection (a) of this section for every capital project for which funds have been appropriated, in whole or in part, beginning in fiscal year 2008, with the annual budget for each fiscal year until the project has been completed.
(2) For projects included in fiscal years 2008, 2009, and 2010 budgets, the Mayor shall submit to the Council the information required by subsection (a) of this section by February 1, 2010, for each capital project for which this information has not been provided.
(Mar. 3, 2010, D.C. Law 18-111, § 1141(b), 57 DCR 181.)
HISTORICAL AND STATUTORY NOTES
Emergency Act Amendments
For temporary (90 day) addition, see § 2(b) of Revised Capital Project Clarification Emergency Amendment Act of 2009 (D.C. Act 18-120, June 20, 2009, 56 DCR 4955).
For temporary (90 day) addition, see § 2(b) of Capital Project Clarification Emergency Amendment Act of 2009 (D.C. Act 18-100, June 2, 2009, 56 DCR 4449).
For temporary (90 day) addition, see § 1011(b) of Fiscal Year 2010 Budget Support Emergency Act of 2009 (D.C. Act 18-187, August 26, 2009, 56 DCR 7374).
For temporary (90 day) addition, see § 1141(b) of Fiscal Year 2010 Budget Support Second Emergency Act of 2009 (D.C. Act 18-207, October 15, 2009, 56 DCR 8234).
For temporary (90 day) addition, see § 1141(b) of Fiscal Year Budget Support Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-260, January 4, 2010, 57 DCR 345).
Legislative History of Laws
For Law 18-111, see notes following § 47-305.02.
Miscellaneous Notes
Short title: Section 1140 of D.C. Law 18-111 provided that subtitle O of title I of the act may be cited as the "Capital Project Clarification Act of 2009".
Commencing with the tax year beginning October 1, 1994, and ending September 30, 1995, and for each tax year thereafter, the Mayor shall note on the first half tax bill, which is due and payable by March 31, 1995, and on the second half tax bill, which is due and payable by September 15, 1995, the percent of the total real property tax levy that constitutes the special real property tax levy.
(May 24, 1994, D.C. Law 10-126, § 6, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 47-340.
Legislative History of Laws
For legislative history of D.C. Law 10-126, see Historical and Statutory Notes following § 47-336.
