2013 District of Columbia Code
Division VIII — GENERAL LAWS
Title 47 — TAXATION, LICENSING, PERMITS, ASSESSMENTS, AND FEES
Chapter 46 — SPECIAL TAX INCENTIVES
Section 47-4614 — East of the river hospital tax exemptions.

(a) The transfer of Lots 3 and 4, Square 5919, transferred to Specialty Hospitals of Washington-GSE Holdings, LLC, or certain of its subsidiary entities, shall be exempt from the tax imposed by § 42-1103 and § 47-903.
(b) The real property, including land and improvements, designated for tax purposes as Lots 3 and 4, Square 5919, shall be exempt from the tax imposed by Chapter 8 of this title; provided, that the exemption shall commence on the date that Specialty Hospitals of America, LLC, or certain of its subsidiary entities, acquires the property and terminates on the earlier to occur of:
(1) The date that the Mayor certifies to the District of Columbia Treasurer that Specialty Hospitals of America, LLC, or certain of its subsidiaries, or any party that subsequently acquires the property or any part thereof by purchase, lease, or exchange, fails to comply with the terms of an agreement between Specialty Hospital of America, LLC, or certain of its subsidiaries, and Greater Southeast Investment, L.P., to pay an amount equal to the real property taxes that the owner of the property would be obligated to pay on the property, or any part thereof, in the absence of this section; or
(2) The date that the Mayor certifies to the District of Columbia Treasurer that the acquisition loan in the maximum principal amount of $29 million by Greater Southeast Investment, L.P., to Capitol Medical Center, LLC, and CMC Realty, LLC, has been paid in full.

History
(July 18, 2008, D.C. Law 17-186, § 3(b), 55 DCR 6113.)

Annotations
Legislative History of Law 17-186. Law 17-186, the "East of the River Hospital Revitalization Tax Exemption Amendment Act of 2008", was introduced in Council and assigned Bill No. 17-464 which was referred to the Committee on Finance and Revenue. The Bill was adopted on first and second readings on April 1, 2008, and May 6, 2008, respectively. Signed by the Mayor on May 20, 2008, it was assigned Act No. 17-380 and transmitted to both Houses of Congress for its review. D.C. Law 17-186 became effective on July 18, 2008.