D.C. Law 19-78. Vault Tax Clarification Amendment Act of 2011.

AN ACT

To amend the District of Columbia Public Space Rental Act to clarify that any vault that, in whole or in part, is serving real property exempt from taxation under D.C. Official Code § 47-1002(19) is exempt from vault rent; and to order that charges assessed with respect to such vaults that are unpaid as of the effective date of this act be forgiven.

BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "Vault Tax Clarification Amendment Act of 2011".

Sec. 2. Section 305(d) of the District of Columbia Public Space Rental Act, approved October 17, 1968 (82 Stat. 1159; D.C. Official Code § 10-1103.04(d)), is amended by adding a new paragraph (3) to read as follows:

"(3) Any vault serving, in whole or in part, real property exempt from taxation under D.C. Official Code § 47-1002(19) shall be exempt from vault rent.".

Sec. 3. Equitable forgiveness of taxes.

The Council of the District of Columbia orders that all vault rentals, interest, penalties, fees, and other related charges assessed with respect to vaults serving, in whole or in part, real property exempt from real property taxation under D.C. Official Code § 47 -1002(19) that are unpaid as of the effective date of this act be forgiven.

Sec. 4. Applicability.

This act shall apply upon the inclusion of its fiscal effect in an approved budget and financial plan.

Sec. 5. Fiscal impact statement.

The Council adopts the fiscal impact statement in the committee report as the fiscal impact statement required by section 602(c)(3) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Official Code § 1-206.02(c)(3)).

Sec. 6. 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), a 30-day period of Congressional review as provided in section 602(c)(1) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Official Code § 1-206.02(c)(1)), and publication in the District of Columbia Register.