Source: https://development.code.dccouncil.us/dc/council/code/sections/47-4639.html
Timestamp: 2019-04-21 08:44:52+00:00

Document:
D.C. Law Library - § 47–4639. King Towers residential housing rental project; Lot 49, Square 281.
↪ § 47–4639. King Towers residential housing rental project; Lot 49, Square 281.
§ 47–4638. 2323 Pennsylvania Avenue, S.E., redevelopment project.
§ 47–4640. Payments in lieu of taxes, Center Leg Freeway (Interstate 395) PILOT Area.
§ 47–4639. King Towers residential housing rental project; Lot 49, Square 281.
(a) As of August 13, 2010, the real property described as Lot 49, Square 281, owned by King Housing, LLC, or by an entity controlled, directly or indirectly, by King Housing, LLC, shall be exempt from taxation under Chapter 8 of this title so long as the real property continues to be owned by King Housing, LLC., or by an entity controlled, directly or indirectly, by King Housing, LLC, or continues to be under applicable use restrictions during a federal low-income housing tax credit compliance period or any other federal program governing income and use restrictions at the property, and is not used for commercial purposes, subject to the provisions of §§ 47-1005, 47-1007, and 47-1009.
(b) The conveyance of the real property to King Housing, LLC, to or an entity controlled directly or indirectly by King Housing, LLC, shall be exempt from the tax imposed by §§ 42-1103 and 47-903.
(c) The exemptions provided in this section shall be in addition to, and not in lieu of, any other tax relief or assistance from any other source applicable to either the real property or its owner.
(d) The Council orders that all economic interest transfer tax, penalties, interest, fees, and other related charges assessed against the real property as described in this section be forgiven, and that any payments already made be refunded.
For temporary (90 day) addition of section, see § 2(b) of King Towers Residential Housing Real Property Tax Exemption Emergency Act of 2010 (D.C. Act 18-453, June 28, 2010, 57 DCR 5671).
For temporary (90 days) repeal of D.C. Law 19-153, § 3, see § 7006 of the Fiscal Year 2014 Budget Support Emergency Act of 2013 (D.C. Act 20-130, July 30, 2013, 60 DCR 11384, 20 DCSTAT 1827).
For temporary (90 days) repeal of D.C. Law 19-153, § 3, see § 7006 of the Fiscal Year 2014 Budget Support Congressional Review Emergency Act of 2013 (D.C. Act 20-204, October 17, 2013, 60 DCR 15341, 20 DCSTAT 2311).
Section 7006 of D.C. Law 20-61 repealed D.C. Law 19-153, § 3.

References: § 47
 § 47

§ 47

§ 47

§ 47
 § 2
 § 3
 § 7006
 § 3
 § 7006
 § 3