D.C. Law 24-263. UDC Leased Property Tax Abatement Amendment Act of 2022.

AN ACT

To amend Chapter 10 of Title 47 of the District of Columbia Official Code to exempt from taxation the real property that is located at 4225 Connecticut Avenue, N.W., and leased by the University of the District of Columbia.

BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the "UDC Leased Property Tax Abatement Amendment Act of 2022".

Sec. 2. Chapter 10 of Title 47 of the District of Columbia Official Code is amended as follows:

(a) The table of contents is amended by adding a new section designation to read as follows:

47-1099.12. University of the District of Columbia, Lot 0007, Square 2051.

(b) A new section 47-1099.12 is added to read as follows:

"Sec. 47-1099.12. University of the District of Columbia, Lot 0007, Square 2051.

"The real property located at 4225 Connecticut Avenue, N.W., Washington, D.C., and described for assessment and taxation purposes as Lot 0007, Square 2051, shall be exempt from real property taxation so long as the real property continues to be leased by the University of the District of Columbia and used by the university for educational purposes.".

Sec. 3. Fiscal impact statement.

The Council adopts the fiscal impact statement in the committee report 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), 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.