Source: https://development.code.dccouncil.us/dc/council/code/titles/47/chapters/3/subchapters/II-A/
Timestamp: 2019-04-21 00:41:06+00:00

Document:
D.C. Law Library - Subchapter II-A. Capital Review and Debt Affordability.
↪ Subchapter II-A. Capital Review and Debt Affordability.
Subchapter II-B. Industrial Revenue Bond Forward Commitment Program.
Subchapter II-A. Capital Review and Debt Affordability.
§ 47–337. Capital Review and Debt Affordability Committee.
§ 47–338. Duties of the Committee.
§ 47–339. Preliminary capital budget and multiyear capital improvements plan.
§ 47–340. Notation of debt service requirement on real property tax bills.
(D) The present value of the lease payments is 90% or more of the fair market value of the real property.
(2) “Committee” means the Capital Review and Debt Affordability Committee.
(3) “Multiyear capital improvements plan” means the multiyear capital improvements plan required by § 1-204.44.
(4) “Special real property tax levy” means that portion of the real property tax levy required by District of Columbia general obligation bonds acts to be deposited in the debt service fund so that, when added to the funds already on deposit in the fund, the fund will be sufficient to pay the principal and interest on all outstanding general obligation bonds and additional general obligation bonds coming due in any year.
(a) There is established a Capital Review and Debt Affordability Committee.
(D) The Chairman of the Council.
(c) The Chief Financial Officer shall serve as the chairperson of the Committee.
(d) The chairperson shall call meetings of the Committee as needed to perform its duties.
(a) The Committee shall review the size and condition of the District general obligation bonds and capital lease financings on a continuing basis.
(b) On or before August 1 of each year, the Committee shall submit to the Mayor and the Council the Committee’s estimate of the total amount of new District general obligation bonds and capital lease financings that prudently may be authorized for the next fiscal year.
(6) Any other factor that is relevant to the ability of the District to meet its projected debt service and capital lease financings.
(d) The estimate of the Committee is advisory and does not bind the Council or the Mayor.
(e) The Committee may review the capital needs of the District on a continuing basis.
(8) All other capital projects.
(8) Comprehensive plans for other specific types of capital investment.
(h) The allocation of financing recommended by the Committee is advisory and does not bind the Mayor or the Council.
On or before January 10 of each year, the Mayor shall transmit to the Council a preliminary capital budget for the next fiscal year and a preliminary multiyear capital improvements plan.
(F) A facility name or identifier, if applicable.
(iii) Do not involve construction of new facilities or substantial rehabilitation of government buildings.
(B) The information listed in paragraph (1) of this subsection shall be separately provided for any public betterment or improvement included as part of a capital project if the cost of the public betterment or improvement is greater than $500,000 or more than 10% of the approved budget for the capital project.
(3)(A) For a capital project meeting the requirements of § 2-356.06(a)(3), the estimated fully funded cost information provided pursuant to paragraph (1)(C) of this subsection shall account for the cost of compliance with the requirements of § 2-356.06 in an amount equal to 10% of the total estimated cost of the project or some other amount determined to be sufficient by the Mayor.
(B) This paragraph shall apply to capital projects for which construction costs will be incurred beginning in or after Fiscal Year 2020.
(b)(1) The Mayor shall provide the information required by subsection (a) of this section for every capital project for which funds have been appropriated, in whole or in part, beginning in fiscal year 2008, with the annual budget for each fiscal year until the project has been completed.
(2) For projects included in fiscal years 2008, 2009, and 2010 budgets, the Mayor shall submit to the Council the information required by subsection (a) of this section by February 1, 2010, for each capital project for which this information has not been provided.
For temporary (90 days) amendment of this section, see § 1022 of Fiscal Year 2019 Budget Support Congressional Review Emergency Act of 2018 (D.C. Act 22-458, Oct. 3, 2018, 65 DCR 11212).
For temporary (90 days) amendment of this section, see § 1022 of Fiscal Year 2019 Budget Support Emergency Act of 2018 (D.C. Act 22-434, July 30, 2018, 65 DCR 8200).
For temporary (90 day) addition of this section, see § 2(b) of the Revised Capital Project Clarification Emergency Amendment Act of 2009 (D.C. Act 18-120, June 20, 2009, 56 DCR 4955).
For temporary (90 day) addition, see § 2(b) of Capital Project Clarification Emergency Amendment Act of 2009 (D.C. Act 18-100, June 2, 2009, 56 DCR 4449).
For temporary (90 day) addition, see § 1011(b) of Fiscal Year 2010 Budget Support Emergency Act of 2009 (D.C. Act 18-187, August 26, 2009, 56 DCR 7374).
For temporary (90 day) addition, see § 1141(b) of Fiscal Year 2010 Budget Support Second Emergency Act of 2009 (D.C. Act 18-207, October 15, 2009, 56 DCR 8234).
For temporary (90 day) addition, see § 1141(b) of Fiscal Year Budget Support Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-260, January 4, 2010, 57 DCR 345).
Short title: Section 1140 of D.C. Law 18-111 provided that subtitle O of title I of the act may be cited as the “Capital Project Clarification Act of 2009”.
Commencing with the tax year beginning October 1, 1994, and ending September 30, 1995, and for each tax year thereafter, the Mayor shall note on the first half tax bill, which is due and payable by March 31, 1995, and on the second half tax bill, which is due and payable by September 15, 1995, the percent of the total real property tax levy that constitutes the special real property tax levy.

References: § 47

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