Source: https://development.code.dccouncil.us/dc/council/code/sections/47-4630.html
Timestamp: 2019-04-21 08:44:57+00:00

Document:
D.C. Law Library - § 47–4630. Tax abatements for high technology commercial real estate database and service providers.
↪ § 47–4630. Tax abatements for high technology commercial real estate database and service providers.
§ 47–4629. Park Place at Petworth, Highland Park, and Highland Park Phase II Project tax exemptions.
§ 47–4630. Tax abatements for high technology commercial real estate database and service providers.
(1) “High technology commercial real estate database and service provider” means a business entity that provides access to clients via the Internet to its database of commercial real estate information throughout the United States.
(C) The Southeast Federal Center/Navy Yard Area, which shall consist of land within the boundary description beginning at the intersection of Interstate 395/295 (SW/SE Freeway), and the Anacostia River Waterfront, S.W.; northwest to 14th Street, S.W.; south on 14th Street, S.W., to the Washington Channel Waterway; east along Washington Channel to the Anacostia River eastern banks; and adjacent areas encompassing the public housing and residential parcels adjacent to the Navy Yard, 8th Street commercial corridor, Marine Barracks, and Buzzards Point area.
(3) “Real property” shall have the same meaning as in § 47-802.
(8) Notwithstanding any other provision of this section, no person shall claim an abatement pursuant to this section prior to October 1, 2010.
(c) If the real property that is the subject of the abatement under section (b) of this section is a portion of a larger unit of real property that is assessed for real property tax under Chapter 8 of this title, the abatement shall be applied by reducing the assessment of the larger unit of real property by the ratio that the square footage of the occupied portion bears to the square footage of the larger unit of real property.
(d) The abatement shall be deducted from the real property tax bill or by issuing a refund (in the same amount as what would have been the abatement) to the high technology commercial real estate database and service provider, notwithstanding § 47-811.02, at the discretion of the Office of Tax and Revenue. The Office of Tax and Revenue may apply the abatement to any half of the tax year.
(e) If the high technology commercial real estate database and service provider shall cease to qualify for the abatement, the abatement shall cease on the first day of the month following the day when the Mayor certifies the disqualification to the Office of Tax and Revenue.
(f) The Mayor shall certify to the Office of Tax and Revenue the identity of each high technology commercial real estate database and service provider for which compliance under subsection (b) of this section has been verified by the Mayor, a description of each real property that is the subject of the abatement provided by this section, and the date on which the abatement shall begin.
(g) The abatement pursuant to this section shall apply once the high technology commercial real estate database and service provider has certified to the Department of Employment Services that the provider has hired at least 100 employees residing in the District of Columbia beyond the number of employees residing in the District of Columbia as of January 5, 2010 (“baseline number”); provided, that the high technology commercial real estate database and service provider shall maintain the baseline number throughout the entire term of the abatement. The failure to maintain the baseline number shall result in the forfeiture of the abatement during any period in which the baseline number is not met.
(h) Funds shall be sufficient within an approved budget and financial plan to support the fiscal impact of a tax abatement under this section.
For temporary (90 day) amendment of section, see § 2 of Third & H Streets, N.E. Economic Development Technical Clarification Emergency amendment Act of 2010 (D.C. Act 18-392, May 7, 2010, 57 DCR 4344).
For temporary (90 day) repeal of section 3 of D.C. Law 18-169, see § 7010 of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542).
“Sec. 3. Funding for tax abatements for high technology commercial real estate database and service providers.
“The Office of the Deputy Mayor for Planning and Economic Development shall transfer up to $700,000 annually from the industrial revenue bond special account established under D.C. Official Code § 47-131(c)(4), or other appropriate fund, to the General Fund of the District of Columbia to offset revenue reductions for qualified high technology commercial real estate database and service providers.
“Sec. 4. Development of comprehensive strategy for attracting business.
Delegation of Authority under High Technology Commercial Real Estate Database and Service Providers Tax Abatement Act of 2010, see Mayor’s Order 2010-184, December 31, 2010 ( 57 DCR 12645).

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