D.C. Act 25-546. Deputy Mayor for Planning and Economic Development Technology Incubator Grant Emergency Amendment Act of 2024.
AN ACT
To authorize, on an emergency basis, the Deputy Mayor for Planning and Economic Development to provide grant funding to a technology incubator in the District.
BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "Deputy Mayor for Planning and Economic Development Technology Incubator Grant Emergency Amendment Act of 2024".
Sec. 2. Section 2032 of the Deputy Mayor for Planning and Economic Development Limited Grant-Making Authority Act of 2012, effective September 20, 2012 (D.C. Law 19-168; D.C. Official Code § 1-328.04), is amended by adding a new subsection (jj) to read as follows:
"(jj) Notwithstanding
"(1) In Fiscal Year 2024, the Deputy Mayor shall award a grant of $500,000 to Capital Factory for the purpose of supporting a technology incubator in the District; and
"(2) In Fiscal Year 2025, the Deputy Mayor shall award a grant of $1,500,000 to Capital Factory for the purpose of supporting a technology incubator in the District.".
Sec. 3. Fiscal impact statement.
The Council adopts the fiscal impact statement of the Budget Director 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 a 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)).
