D.C. Act 22-403. Golden Triangle Business Improvement District Emergency Amendment Act of 2018.

AN ACT

To amend, on an emergency basis, the Business Improvement Districts Act of 1996 to add designated properties to the Golden Triangle Business Improvement District, to revise the rates of assessment, and to establish the residential tax rate for residential members of the Golden Triangle Business Improvement District.

BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "Golden Triangle Business Improvement District Emergency Amendment Act of 2018".

Sec. 2. The Business Improvement Districts Act of 1996, effective May 29, 1996 (D.C. Law 11-134; D.C. Official Code § 2-1215.01 et seq.), is amended as follows:

(a) Section 3(24)(B) (D.C. Official Code § 2-1215.02(24)(B)) is amended by striking the phrase "Capitol Riverfront, and Downtown BIDs," and inserting the phrase "Capitol Riverfront, Downtown, and Golden Triangle BIDs," in its place.

(b) Section 10b(a)(1) (D.C. Official Code § 2-1215.09b(a)(1)) is amended by striking the phrase "Downtown BID petition to join the Downtown BID;" and inserting the phrase "Downtown BID or Golden Triangle BID petition to join such BID;" in its place.

(c) Section 202 (D.C. Official Code § 2-1215.52) is amended as follows:

(1) Subsection (b) is amended by adding a new paragraph (4) to read as follows:

"(4) Square 0115, Lots 0064, 0065, 0803, and 0804; Square 0073, Lots 0079, 0883, and 0884; Square 0182, Lot 0084; Square 0166, Lot 0861; and Square 0159, Lot 0087; provided, that Lot 0087 is included in the Golden Triangle BID effective as of October 1, 2019.".

(2) Subsection (c) is amended as follows:

(A) Subparagraph (A)(iii)(II) is amended by striking the word "and".

(B) Subparagraph (B) is amended as follows;

(i) Strike the phrase "For tax years 2011 and thereafter:" and insert the phrase "For tax years 2011 through 2018:" in its place.

(ii) Sub-subparagraph (iii)(II) is amended by striking the period and inserting the phrase "; and" in its place.

(C) New subparagraphs (C) and (D) are added to read as follows:

"(C) For tax years 2019 and thereafter:

"(i)(I) Seventeen cents for each net rentable square foot of improved Class 2 Property and Class 3 Property, excluding hotels, for any property for which the owner is required to report net rentable area to the Office of Tax and Revenue or for which the Office of Tax and Revenue has records indicating the net rentable area of the property.

"(II) Net Rentable square feet shall be the number of net rentable square feet reported to, or on record with, the Office of Tax and Revenue;

"(ii)(I) Seventeen cents for each equivalent net rentable square foot of improvements of improved Class 2 Property and Class 3 Property, excluding hotels, for any property for which the owner is not required to report net rentable area to the Office of Tax and Revenue and for which the Office of Tax and Revenue maintains no record of net rentable area.

"(II) Equivalent net rentable area shall be 90% of the gross building area;

"(iii)(I) Fourteen cents for each equivalent net rentable square foot of improvements of hotels.

"(II) Equivalent net rentable areas shall be 90% of the gross building area.

"(iv) The amount of $120 per unit annually for nonexempt residential properties; provided, that for a residential unit restricted to residents based upon income pursuant to a federal or District affordable housing program, the BID tax due on the unit shall be computed by applying the percentage of area median income that an eligible household must meet to participate in the affordable housing program for the unit to the amount of the BID tax that would otherwise be due; and

"(D) For tax year 2020 and thereafter, a 3% annual increase in the BID taxes over the current year rates specified in this section is authorized, subject to the requirements of section 9(b).".

Sec. 3. Fiscal impact statement.

The Council adopts the fiscal impact statement in the committee report for the Golden Triangle Business Improvement District Amendment Act of 2018, passed on 2nd reading on June 26, 2018 (Enrolled version of Bill 22-761), as the fiscal impact statement required by section 4a of the General Legislative Procedures Act of 1975, approved October 16, 2006 (120 Stat. 2038; D.C. Official Code § 1-301.47a).

Sec. 4. Effective date.

This act shall take effect following approval by the Mayor (or in the event of veto by the Mayor, action by the Council to override the veto), and shall remain in effect for no longer than 90 days, as provided for emergency acts of the Council of the District of Columbia in section 412(a) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 788; D.C. Official Code § 1-204.12(a)).