Source: https://development.code.dccouncil.us/dc/council/code/titles/47/chapters/18/subchapters/VII-A/
Timestamp: 2019-04-23 04:33:13+00:00

Document:
D.C. Law Library - Subchapter VII-A. Job Growth Tax Credit.
Subchapter VII-A. Job Growth Tax Credit.
(1) “Credit certificate” means a statement issued by the Mayor, issued under § 47-1807.55, certifying that a project qualifies for the job growth tax credit and specifying the amount of the job growth tax credit allowed.
(2) “Credit period” means a period of up to 60 consecutive months for which a taxpayer may claim the job growth tax credit that is calculated annually by the Mayor. The credit period shall not extend past December 31, 2020.
(3) “Chief Financial Officer” means the Office of the Chief Financial Officer created by § 1-204.24a.
(4) “FICA taxes” means the taxes imposed by section 3111(a) and (b) of the Internal Revenue Code of 1986.
(5) “Job growth tax credit” means the credit against the franchise taxes imposed by subchapters VII and VIII of this chapter allowed pursuant to this subchapter.
(7) “Net job growth” means the difference between the total number of full-time equivalent employees, who are residents of the District of Columbia, employed by the taxpayer in the District of Columbia for the project at the end of each calendar year of the project and the total number of full-time equivalent employees, who are residents of the District of Columbia, employed by the taxpayer in the District of Columbia for the project at the commencement of the project.
(8) “Project” means any business project that encourages, promotes, and stimulates economic development in key economic sectors and that is approved by the Mayor as specified in § 47-1807.54.
(9) “Taxpayer” means a taxpayer engaged in trade or business.
This section is referenced in § 47-1807.09.
For temporary (90 day) repeal of § 4 of D.C. Law 18-202, see § 715 of Fiscal Year 2011 Supplemental Budget Support Emergency Act of 2010 (D.C. Act 18-694, January 19, 2011, 58 DCR 662).
“This act shall expire on January 1, 2030.
Section 715 of D.C. Law 18-370 repealed section 3 of D.C. Law 18-202.
(4) Be approved by the Mayor only if the project would not occur but for the job growth tax credit.
This section is referenced in § 47-1807.55.
(a) A taxpayer that receives approval for a job growth tax credit shall notify the Mayor promptly if the project is canceled or otherwise becomes ineligible for the job growth tax credit, in which case the approval may be canceled. The approval shall be void if the taxpayer that receives approval does not commence the project within 1 1/2 years after the receipt of the approval or fails to meet the specific terms established by the Mayor under § 47-1807.54(a)(2).
(b)(1) On or before March 1 of the calendar year after the commencement of the project, and each March 1 of any calendar year following a year of the credit period, a taxpayer that received approval under § 47-1808.54(a)(2) shall submit an annual request for a credit certificate to the Mayor. The request shall include documents that detail the number of employees hired for the project, the net job growth for the project, all documentation necessary to calculate the job growth tax credit, and any other information requested by the Mayor.
(2) If the project has commenced and the project meets or exceeds the conditions of a project as specified in § 47-1807.53 and the specific terms established by the Mayor under § 47-1807.54(a)(2), the Mayor shall, on an annual basis, certify the project’s compliance with § 47-1807.53 and § 47-1807.54(a)(2), calculate the annual amount of the credit allowed as specified in § 47-1807.54(b)(2), and issue a credit certificate for that calendar year in that amount to the taxpayer. The credit certificate shall be submitted by the taxpayer to the Chief Financial Officer with the taxpayer’s income tax return for the tax year that includes December 31 of the calendar year for which the credit certificate is issued.
(c) The Chief Financial Officer may audit the accounts of a taxpayer receiving a job growth tax credit up to 12 months following the issuance of any credit certificate.
(d) The Mayor shall transmit an annual report to the Council, including information regarding all approvals granted and credit certificates issued in reference to the job growth tax credit, including the names of the recipients of the credits, the credit amounts claimed, and the total net job growth for each recipient.
This section is referenced in § 47-1807.51.

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