Source: https://development.code.dccouncil.us/dc/council/code/titles/47/chapters/35/
Timestamp: 2019-03-25 00:02:21
Document Index: 222015711

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D.C. Law Library - Chapter 35. Lower Income Homeownership Tax Abatement and Incentives.
§ 47–3506. Administration and enforcement — Qualifying nonprofit housing organizations and cooperative housing associations.
§ 47–3506.01. Resident management corporations — Qualifications; exemptions.
§ 47–3507. Certification of program providing low income rental housing.
§ 47–3508. Regulations.
(1) Homeownership can be afforded by very few lower income families in the District of Columbia.
(2) Homeownership stabilizes families and, in turn, stabilizes neighborhoods, contributing to improved housing conditions and safer, better quality neighborhoods.
(3) The District of Columbia government budgets for the fiscal years ending September 30, 1983, and September 30, 1984, do not have funds available for significant new homeownership initiatives.
(4) Homeownership for lower income families can be achieved, on a limited basis, through the work of nonprofit housing organizations and through private investments in shared equity arrangements which are encouraged by existing federal and District of Columbia income tax laws.
(5) Additional support for nonprofit housing organizations, and private investors in shared equity arrangements, through property tax abatements and other incentives can serve to expand homeownership for lower income families at little or no additional cost to the District of Columbia.
(6) Expansion of homeownership opportunities for lower income families is beneficial to the public peace, health, safety and general welfare.
(7) The purpose of this act is to expand homeownership opportunities for lower income families to the maximum extent possible at the lowest possible direct cost to the District of Columbia.
(Oct. 8, 1983, D.C. Law 5-31, § 2, 30 DCR 3879; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
1981 Ed., § 47-3501.
“Act,” referred to in paragraph (7), means D.C. Law 5-31.
(a) In order to qualify for an exemption under this section, a nonprofit housing organization shall have been approved by the Internal Revenue Service as exempt from federal income tax under 26 U.S.C. § 501(c)(3) or (4).
(1) A return under oath, certifying the organization’s intent to transfer the property, within 36 months, to a household (or to households in at least 35% of the units in a multifamily property) subject to the income limitations and conditions of transfer described in § 47-3502 or to a cooperative housing association exempt from the deed recordation tax pursuant to § 47-3503(a)(2), accompanies the deed at the time of its offer for recordation; and
(c)(1) Deeds of property transferred to a qualifying nonprofit housing organization shall be exempt from the deed recordation tax pursuant to § 42-1102, if a return under oath, certifying the organization’s intent to transfer the property within 36 months to a household (or to households in at least 35% of the units in a multifamily property) subject to the income limitations and conditions of transfer described in § 47-3502 or to a cooperative housing association exempt from the deed recordation tax pursuant to § 47-3503(a)(2), accompanies the deed at the time of its offer for recordation.
(d) Property transferred to a qualifying nonprofit housing organization shall be exempt from the real property tax pursuant to § 47-1002, through the end of the third tax year following the year in which the property was transferred to the organization if a return under oath, certifying the organization’s intent to transfer the property within 1 year to a household (or to households in at least 35% of the units in a multifamily property) subject to the income limitations and conditions of transfer in § 47-3502 or to a cooperative housing association exempt from the deed recordation tax pursuant to § 47-3503(a)(2), accompanies the deed at the time of its offer for recordation.
1981 Ed., § 47-3505.
This section is referenced in § 42-1102, § 47-813, § 47-902, § 47-1002, § 47-2853.181, and § 47-3506.
D.C. Law 16-33, § 1182, added subsec. (f).
D.C. Law 16-33, § 1281(c), in subsecs. (b)(1) and (c)(1), substituted “within 36 months” for “within 1 year”; and, in subsec. (d), substituted “third tax year” for “first tax year”.
Special rules for real estate brokers, salespersons and property managers, licensure requirement exemptions, see § 47-2853.181.
For temporary (90 day) amendment of section, see § 2 of Nonprofit Housing Organizations Tax Exemption Emergency Act of 2004 (D.C. Act 15-732, January 19, 2005, 52 DCR 1962).
For temporary (90 day) amendment of section, see §§ 1182, 1183, 1281(c), 1282, 1283 of Fiscal Year 2006 Budget Support Emergency Act of 2005 (D.C. Act 16-168, July 26, 2005, 52 DCR 7667).
For temporary (90 day) amendment of section, see § 4 of Finance and Revenue Technical Amendments Emergency Amendment Act of 2006 (D.C. Act 16-260, January 26, 2006, 53 DCR 780).
For temporary (90 day) amendment of section, see § 4 of Finance and Revenue Technical Amendments Congressional Review Emergency Amendment Act of 2006 (D.C. Act 16-361, April 26, 2006, 53 DCR 3619).
For temporary (90 day) amendment of section, see § 3(b) of Finance and Revenue Technical Amendments Second Emergency Amendment Act of 2006 (D.C. Act 16-585, December 28, 2006, 54 DCR 340).
“(f)(1) Beginning October 1, 2002, any nonprofit organization that has (i) acquired property to develop more than 10 units of housing for affordable or lower income home ownership in the District of Columbia, (ii) subdivided the acquired property into more than 10 units, and (iii) been denied exemption from District of Columbia real property taxes pursuant to § 47-1002 shall have 2 years from the date of the subdivision of the property to hold the property without liability for the recordation, transfer, or real property taxes associated with the acquisition and development of the property.
“(2) Beginning October 1, 2002, no recordation, transfer, or real property taxes associated with the acquisition of properties pursuant to paragraph (1) of this subsection shall be assessed against the nonprofit organization if it is not liable for taxes pursuant to paragraph (1) of this subsection.”
Section 5(b) of D.C. Law 15-345 provided that the act shall expire after 225 days of its having taken effect.
“(f)(1) Subject to the requirements of paragraphs (2) and (3) of this subsection, any nonprofit organization that has been denied exemption from District of Columbia real property taxes pursuant to § 47-1002 and has acquired property to develop more than 10 units of housing for affordable or lower income homeownership households in the District of Columbia and subdivides the acquired property into more than 10 units shall have 2 years from the date of the subdivision of the property to hold the property as exempt from the recordation, transfer, and real property taxes associated with the acquisition and development of the property for low-income or affordable housing.
“(2) Recordation, transfer, and real property tax assessments associated with the acquisition of a property under paragraph (1) of this subsection shall not be assessed against a nonprofit organization that acquires property and subdivides it for resale into more than 10 units to low-income home owners when the first low-income home owner purchases a home within 2 years of the subdivision of the real property into lots on the records and cadastral maps of the Office of Tax and Revenue.
“(3) Real property owned or acquired by a nonprofit organization shall be exempt from recordation, transfer and real property taxes if the nonprofit organization subdivides the property into more than 10 units of low-income housing and completes the sale of all units of low-income housing on the property within 4 years from the date of acquisition.”
Section 1183 of D.C. Law 16-33 provided that § 1182 shall apply to real property exemption applications filed on or after January 1, 2001.
(a)(1) If a qualifying nonprofit housing organization fails to transfer the property within 36 months as required by § 47-3505, the Mayor shall disallow the exemptions provided by § 47-3505 and the organization shall pay to the Mayor:
(A) The total tax which would have been due without the exemption;
(B) Interest at the rate of 11/4% per month, or fraction of a month, from the date prescribed for the payment of the tax without regard to the exemptions until the date paid; and
(C) A penalty equal to 10% of the tax. The Mayor may, for good cause shown, extend the time for transfer of the property for an additional period not to exceed 6 months, if the cooperative housing association files a request for extension, in writing, with the Mayor within 30 days after the expiration of the 36-month period.
(2) If a cooperative housing association fails to qualify for the real property tax exemption within 36 months as required by § 47-3503, the Mayor shall disallow the exemption provided by § 47-3503 and the association shall pay to the Mayor:
(A) The total tax which would have been due without the exemptions;
(b) If an association or organization shall willfully make a false statement concerning any information required to be supplied on the certification under § 47-3503 or § 47-3505, the association or organization shall be deemed guilty of the offense of making false statements and, upon conviction, shall be subject to the penalty for that offense provided in § 22-2405(b).
(Oct. 8, 1983, D.C. Law 5-31, § 7, 30 DCR 3879; Mar. 16, 1989, D.C. Law 7-205, § 3(c), 36 DCR 457; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575; Oct. 20, 2005, D.C. Law 16-33, § 1281(d), 52 DCR 7503.)
1981 Ed., § 47-3506.
D.C. Law 16-33, in subsec. (a), substituted “within 36 months” for “within 1 year”; and, in subsecs. (a)(1)(C) and (a)(2)(C), substituted “6 months” for “90 days” and substituted “36-month period” for “1-year period”.
For temporary (90 day) amendment of section, see §§ 1281(d), 1282, 1283 of Fiscal Year 2006 Budget Support Emergency Act of 2005 (D.C. Act 16-168, July 26, 2005, 52 DCR 7667).
(a) In order to qualify for an exemption under this section, a resident management corporation shall meet the requirements of section 20 of the United States Housing Act of 1937 (42 U.S.C. § 1437r).
(b) Real property transferred to a qualifying resident management corporation pursuant, to section 21 of the United States Housing Act of 1937 (42 U.S.C. 1437s), shall be exempt from:
(Oct. 8, 1983, D.C. Law 5-31, § 7a; as added June 11, 1992, D.C. Law 9-120, § 2, 39 DCR 3195; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
1981 Ed., § 47-3506.1.
This section is referenced in § 42-1102, § 47-902, and § 47-1002.
The “Public Housing Homeownership Tax Abatement Amendment Act of 1992,” referred to in four places in (c), is D.C. Law 9-120, codified as §§ 34-2413.02, 34-2105.05, 42-1102, 47-902, 47-1002 and this section.
For the purposes of qualifying for the depreciation deduction provided by 26 U.S.C. § 167(k)(2)(B) , an investor in a shared equity financing agreement, which qualifies for the benefits provided by the Lower Income Homeownership Tax Abatement and Incentives Act of 1983, and who meets the other requirements of 26 U.S.C. § 167(k)(2)(B) , shall be deemed to have conducted rehabilitation pursuant to a program certified by the District of Columbia government if the investor certifies to the Mayor the amount of the rehabilitation expenditures.
(Oct. 8, 1983, D.C. Law 5-31, § 8, 30 DCR 3879; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
1981 Ed., § 47-3507.
Income and franchise taxes, deductions, depreciation, see § 47-1803.03.
The “Lower Income Homeownership Tax Abatement and Incentives Act of 1983,” referred to in this section, is D.C. Law 5-31.
Mayor authorized to issue rules: Section 9 of D.C. Law 5-31 provided that the Mayor shall issue rules necessary to carry out the provisions of §§ 47-3502 to 47-3507.
The Mayor may promulgate regulations to carry out the purposes of this chapter.
(Apr. 4, 2003, D.C. Law 14-282, § 11(ww), 50 DCR 896.)
For temporary (90 day) addition of this section, see § 12(ddd) of Tax Clarity and Recorder of Deeds Emergency Act of 2002 (D.C. Act 14-381, June 6, 2002, 49 DCR 5674).
For temporary (90 day) addition of this section, see § 12(eee) of Tax Clarity and Related Amendments Emergency Act of 2002 (D.C. Act 14-456, July 23, 2002, 49 DCR 8107).
For temporary (90 day) addition of this section, see § 12(eee) of Tax Clarity and Related Amendments Congressional Review Emergency Act of 2002 (D.C. Act 14-510, October 23, 2002, 49 DCR 10247).
For temporary (225 day) addition of section, see § 12(eee) of Tax Clarity and Recorder of Deeds Temporary Act of 2002 (D.C. Law 14-191, October 5, 2002, law notification 49 DCR 9549).
For temporary (225 day) addition of section, see § 12(eee) of Tax Clarity and Related Amendments Temporary Act of 2003 (D.C. Law 14-228, March 23, 2003, law notification 50 DCR 2741).