2013 District of Columbia Code
Division VIII — GENERAL LAWS
Title 47 — TAXATION, LICENSING, PERMITS, ASSESSMENTS, AND FEES
Chapter 47 — EXEMPTIONS AND ABATEMENTS APPROVAL REQUIREMENTS
Section 47-4701 — Exemptions and abatements approval requirements.

(a) Any act introduced in the Council that grants an exemption or abatement of a tax imposed by this title or by § 42-1103 shall satisfy the requirements set forth in this chapter.
(b) An act described in subsection (a) of this section shall be accompanied by an analysis that includes:
(1) The terms of the exemption or abatement;
(2) The annual proposed value of the exemption or abatement;
(3) (A) A summary of the proposed community benefits to be provided by the recipient of the exemption or abatement, which shall include:
(i) The number of affordable housing units to be developed;
(ii) For what level of Area Median Income, as defined by § 47-858.01(1)(A)(i), the units will be affordable;
(iii) The assessed financial value of the subsidy, which shall be measured as the difference between the market rate of a comparable unit within the same neighborhood and the rate that is being charged as affordable housing;
(iv) The number of jobs that will be created, delineated by status as to whether a job is:
(I) Permanent;
(II) Temporary;
(III) Full-time; or
(IV) Part-time;
(v) The estimated wages and benefits for each job created; and
(vi) Any District resident-hiring commitments made.
(B) The summary shall specifically state which community benefits are already required by law, such as inclusionary zoning, and the community amenities that have already been negotiated as part of a planned-unit-development approval.
(4) A financial analysis prepared by the Office of the Chief Financial Officer, which shall consist of the following:
(A) For existing buildings, a review and analysis of the financial condition of the recipient of the proposed exemption or abatement and an advisory opinion stating whether or not it is likely that the recipient could be reasonably expected to meet its fiscal needs without the proposed exemption or abatement.
(B) (i) For development projects, a review and analysis of the financing proposal submitted by the recipient of the proposed exemption or abatement and an advisory opinion stating whether or not it is likely that the project could be financed without the proposed exemption or abatement.
(ii) If, in the opinion of the Chief Financial Officer, it is unlikely that the project could be financed without the proposed exemption or abatement, the Chief Financial Officer shall provide an estimate of the amount of exemption or abatement necessary to enable the project to be financed.
(iii) If, in the opinion of the Chief Financial Officer, it is unlikely that the project could be financed without the proposed exemption or abatement, the Chief Financial Officer shall provide an assessment of the project developer's documentation of:
(I) Efforts to seek alternate financing; and
(II) The factors that limit the developer's ability to obtain adequate financing.
(c) An act described in subsection (a) of this section shall not receive a Council hearing until the analysis described in subsection (b) of this section has been completed and provided to the Council and made available to the public.

History
(Sept. 14, 2011, D.C. Law 19-21, § 7142(b), 58 DCR 6226; Sept. 26, 2012, D.C. Law 19-171, § 114(f), 59 DCR 6190.)

Annotations
Section References. This section is referenced in § 47-4703.

Effect of Amendments. The 2012 amendment by D.C. Law 19-171 validated a previously made technical correction in (b)(3)(A)(ii).

Legislative History of Law 19-21. Law 19-21, the "Fiscal Year 2012 Budget Support Act of 2011", was introduced in Council and assigned Bill No. 19-203, which was referred to the Committee of the Whole. The Bill was adopted on first and second readings on May 25, 2011, and June 14, 2011, respectively. Signed by the Mayor on July 22, 2011, it was assigned Act No. 19-98 and transmitted to both Houses of Congress for its review. D.C. Law 19-21 became effective on September 14, 2011.

Legislative History of Law 19-171. Law 19-171, the "Technical Amendments Act of 2012," was introduced in Council and assigned Bill No. 19-397. The Bill was adopted on first and second readings on Mar. 20, 2012, and Apr. 17, 2012, respectively. Signed by the Mayor on May 23, 2012, it was assigned Act No. 19-376 and transmitted to Congress for its review. D.C. Law 19-171 became effective on September 26, 2012.

Short Title. Short title: Section 7141 of D.C. Law 19-21 provided that subtitle O of title I of the act may be cited as "Exemptions and Abatements Information Requirements Act of 2011".