Source: https://development.code.dccouncil.us/dc/council/code/sections/47-4602.html
Timestamp: 2019-04-18 22:49:27+00:00

Document:
D.C. Law Library - § 47–4602. Tax credit to CareFirst for wages to qualified employees; sales tax exemption for construction.
↪ § 47–4602. Tax credit to CareFirst for wages to qualified employees; sales tax exemption for construction.
§ 47–4601. Lincoln Square Theater sales and use tax exemption.
§ 47–4603. Jenkins Row development project — Tax exemptions.
§ 47–4602. Tax credit to CareFirst for wages to qualified employees; sales tax exemption for construction.
(1) “CareFirst” means CareFirst, Inc., a Maryland non-stock corporation, which is the sole member of Blue Cross Blue Shield of the National Capital Area and licensed to do business in the District as Group Hospitalization and Medical Services, Inc.
(3) “Qualified employee” means an individual subject to the District’s personal income tax who is not currently employed in a facility owned or operated by CareFirst and is hired to fill a position of indefinite duration consisting of a minimum of 35 hours per week for not less than 50 weeks per year, which position is created by CareFirst.
(4) “Tax year” means any calendar year or portion of a calendar year in which District income taxes are due and payable.
(b)(1) Subject to the limitations of paragraphs (2), (3), (4), and (5) of this section, for 5 consecutive tax years beginning with the first tax year during which the CareFirst Project is occupied, for each qualified employee hired by CareFirst that exceeds the number of employees employed by CareFirst during the immediately preceding tax year, commencing after December 31, 2002, and that otherwise meets the requirements of this section, CareFirst shall be allowed a credit against the tax imposed by § 47-1807.02 not to exceed $1,000 for each qualified employee hired. Notwithstanding the foregoing, a credit shall not be allowed for qualified employees hired after December 31, 2005.
(B) The total of franchise, personal property, and income taxes imposed on the CareFirst during the tax year in which the credit is sought.
(iii) The date of the filing of a petition in bankruptcy in connection with CareFirst’s business.
(4) A credit that is allowed but unusable for the tax year in which it accrues may be carried forward for 5 tax years, but no credits shall be carried back.
(iii) Is related to a member of the board of directors or owner of 5% or more of its stock as a spouse or as a relative who is a dependent as defined in section 152 of the Internal Revenue Code of 1986, approved August 16, 1954 (68A Stat. 43; 26 U.S.C. § 152), without regard to income.
“(5) Is not in violation of the applicable laws and regulations of the District.”.
(c) Gross receipts from the sales of tangible personal property to be incorporated or consumed in the course of construction of the CareFirst Project shall be exempt from the tax imposed by Chapter 20 of this title. The amount of all taxes, fees, and deposits exempted, abated, or waived under this subsection shall not exceed $2 million.
D.C. Law 16-191 substituted “of this title” for “[of this title]” following “Chapter 20”; and validated a previously made technical correction in the section heading.
For temporary (90 day) amendment of section, see § 16 of Finance and Revenue Technical Amendments Second Emergency Amendment Act of 2006 (D.C. Act 16-585, December 28, 2006, 54 DCR 340).

References: § 47
 § 47

§ 47

§ 47

§ 47
 § 47
 § 152
 § 16