reglab/statecodes huggingface dataset:
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-B - Financial Accountability and Management › § 47–318.01a. Mayoral budget submission required; consistency of budget submission with previous fiscal year spending. [Repealed]

§ 47–318.01a. Mayoral budget submission required; consistency of budget submission with previous fiscal year spending. [Repealed]
[Repealed].
(Mar. 2, 2007, D.C. Law 16-191, § 72, 53 DCR 6794; Mar. 25, 2009, D.C. Law 17-353, § 131(b), 56 DCR 1117; Oct. 22, 2015, D.C. Law 21-36, § 7022(b), 62 DCR 10905.)
Effect of Amendments
D.C. Law 17-353 validated a previously made technical correction in the section designation.
Emergency Legislation
For temporary (90 days) repeal of D.C. Law 15-205, §§ 1041-1043, see § 7012(a) of the Fiscal Year 2016 Budget Support Emergency Act of 2015 (D.C. Act 21-127, July 27, 2015, 62 DCR 10201).
For temporary (90 days) repeal of this section, see § 7012(b) of the Fiscal Year 2016 Budget Support Emergency Act of 2015 (D.C. Act 21-127, July 27, 2015, 62 DCR 10201).
Short Title
Short title of subtitle E of title I of Law 15-205: Section 1041 of D.C. Law 15-205 provided that subtitle E of title I of the act may be cited as the Fiscal Year 2006 Budget Submission Act of 2004.
Editor's Notes
Section 1042(a) of D.C. Law 15-205 provided: “For each fiscal year, the Mayor shall submit a budget to the Council of which the local funds shall be consistent with the amount projected in spending for the previous fiscal year by the Council in the Council Committee of the Whole report on the Budget Request Act.”
Section 1042 of D.C. Law 15-205 was repealed by D.C. Law 21-36, § 7022(a).
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-B - Financial Accountability and Management › § 47–318.01b. Legislative branch budget submission

§ 47–318.01b. Legislative branch budget submission.
(a) At least 20 days prior to the Mayor’s submission of the annual budget to the Council, the Chairman of the Council shall transmit to the Mayor an estimate in detail of the amount of money required for the:
(1) Council;
(2) Office of the District of Columbia Auditor; and
(3) Office of the Advisory Neighborhood Commissions for the ensuing fiscal year.
(b) The Mayor shall transmit the same estimate required by subsection (a) of this section in his annual estimate of appropriations for the District of Columbia, with such recommendations as he may consider proper.
(Mar. 3, 2010, D.C. Law 18-111, § 1081(b), 57 DCR 181.)
Emergency Legislation
For temporary (90 day) addition, see § 1081(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 § 1081(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
Short title: Section 1080 of D.C. Law 18-111 provided that subtitle I of title I of the act may be cited as the “Legislative Branch Budget Submission Act of 2009”.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-B - Financial Accountability and Management › § 47–318.02. Mayoral budget submissions required; accounting of expenditures — Budget request and multiyear plan

§ 47–318.02. Mayoral budget submissions required; accounting of expenditures — Budget request and multiyear plan.
(a) The Mayor shall provide the Council with both a budget request and a multiyear plan no earlier than February 1 and no later than February 8 of each calendar year commencing with 1994.
(b) The Mayor shall provide the Council with both a budget modification and a multiyear plan modification 3 times each fiscal year: the first set no earlier than June 1 and no later than June 15, the second set no earlier than November 8 and no later than November 15, and the third set no earlier than February 1 and no later than February 8.
(c) The Council shall adopt each of the budget and multiyear plan modifications no more than 28 days after official submission to the Council. Any modification on which the Council does not act within 28 days shall be deemed approved.
(d) Notwithstanding subsection (b) of this section, for fiscal year 1994, the Mayor shall provide the Council with the first budget modification and first multiyear plan no earlier than November 8 and no later than November 15.
(Nov. 25, 1993, D.C. Law 10-64, § 4, 40 DCR 7347; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-318.2.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-B - Financial Accountability and Management › § 47–318.03. Mayoral budget submissions required; accounting of expenditures — Gap-closing actions

§ 47–318.03. Mayoral budget submissions required; accounting of expenditures — Gap-closing actions.
(a) In the annual budget request, the Mayor shall provide the Council with all gap-closing actions for the upcoming fiscal year budget. Gap-closing actions include increases in current revenue bases and rates; new taxes, fees, charges, fines, forfeitures, and penalties; expenditure reductions associated with lower service levels; and productivity improvements that yield expenditure reductions without a decrease in service levels.
(b) If the Council rejects gap-closing actions of the Mayor either in the annual budget request or any budget modification, it must substitute 1 or more of its own gap-closing actions to make up the amount of the rejected gap-closing actions.
(c) Within 30 days after the end of each month, the Mayor shall provide the Council with a progress report on those gap-closing actions that the Council designates for monitoring.
(d) The Mayor or Mayor’s designee(s) shall appear before a hearing of the Committee of the Whole every 2 months to respond to questions regarding gap-closing actions.
(e) The Mayor shall replace, in the Mayor’s budget modification submission, any gap-closing actions that the Council determines to be in serious danger of failure with gap-closing actions more likely to occur. However, the Mayor may not replace gap-closing actions approved by the Council in any budget adoption process merely because the Mayor does not support such actions.
(f) If the Mayor determines that the budget gap has increased from the submission of the Mayor’s budget request to the submission of the first budget modification, or from the submission of 1 budget modification to the submission of another, the Mayor must increase the aggregate dollar value of the gap-closing actions to cover the difference. If the Mayor determines that the budget gap has decreased from the submission of the Mayor’s budget request to the submission of the first budget modification, or from the submission of 1 budget modification to the submission of another, the Mayor may decrease the aggregate dollar value of the gap-closing actions to eliminate the difference.
(Nov. 25, 1993, D.C. Law 10-64, § 5, 40 DCR 7347; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-318.3.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-B - Financial Accountability and Management › § 47–318.04. Mayoral budget submissions required; accounting of expenditures — Deadline for gap-closing submission

§ 47–318.04. Mayoral budget submissions required; accounting of expenditures — Deadline for gap-closing submission.
The Mayor shall submit to the Council, no later than October 8, 1993, all explicit actions necessary to close the FY 1994 budget gap previously identified by the Mayor, as well as the dollar value of each action.
(Nov. 25, 1993, D.C. Law 10-64, § 6, 40 DCR 7347; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-318.4.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-B - Financial Accountability and Management › § 47–318.05. Mayoral budget submissions required; accounting of expenditures — Cash flow statements

§ 47–318.05. Mayoral budget submissions required; accounting of expenditures — Cash flow statements.
The Mayor shall submit to the Council, beginning October 1, 1993, and every month thereafter, monthly consolidated cash flow statements in the same format as currently prepared by the Office of the D.C. Treasurer, except that the statement submitted to the Council shall contain an explanation of all changes in cash flows that have occurred since the previous month’s report.
(Nov. 25, 1993, D.C. Law 10-64, § 7, 40 DCR 7347; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-318.5.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-B - Financial Accountability and Management › § 47–318.05a. Budget submissions required; agency enhancement requests

§ 47–318.05a. Budget submissions required; agency enhancement requests.
The Mayor and the Chief Financial Officer shall supplement all proposed budgets submitted pursuant to § 1-204.42, and related budget documents required by §§ 1-204.42, 1-204.43, and 1-204.44, by submitting to the Council simultaneously with the proposed budget submission:
(1) Actual copies, not summaries, of all agency budget enhancement requests, including the “Form B” for all District agencies; and
(2) Any similar documentation describing in detail agencies’ budget needs or requests.
(Aug. 16, 2008, D.C. Law 17-219, § 1011(b), 55 DCR 7598.)
Short Title
Short title: Section 1010 of D.C. Law 17-219 provided that subtitle E of title I of the act may be cited as the “Budget Transparency Act of 2008”.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-B - Financial Accountability and Management › § 47–318.06. Monitoring indications of economic growth

§ 47–318.06. Monitoring indications of economic growth.
Each year, in connection with budget estimates, the Chief Financial Officer shall prepare an analysis of change in the economy and in economic assumptions and revenue forecasts which, to the extent practical, shall comment on the impact of tax changes on expanding the District’s tax base. Such analysis shall be transmitted to the Council of the District of Columbia at the time of the Mayor’s budget submission to the Council.
(Oct. 20, 1999, D.C. Law 13-38, § 2705(b), 46 DCR 6373.)
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-C - Monitoring Committee › § 47–319.01. Establishment of the Initiative Implementation Monitoring Committee; duties

§ 47–319.01. Establishment of the Initiative Implementation Monitoring Committee; duties.
(a) There is established an Initiative Implementation Monitoring Committee (“Committee”).
(b) The Committee shall advise the Mayor and the Council on the status of the implementation of the initiatives contained in the District’s Revised Fiscal Year 1996 Budget Request Act and the July 1995 recommendations of the Financial Responsibility and Management Assistance Authority.
(c) The Committee is authorized to meet weekly to review weekly reports on the implementation of budget initiatives from subordinate agency heads and the budget officers of independent agencies to facilitate the monitoring of spending initiatives.
(Mar. 5, 1996, D.C. Law 11-98, § 701, 43 DCR 5; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-319.1.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-C - Monitoring Committee › § 47–319.02. Composition

§ 47–319.02. Composition.
(a) The Committee shall consist of 9 members as follows:
(1) City Administrator or his or her designee, provided that the designee shall have the full authority of the City Administrator;
(2) Budget Director for the Council;
(3) Inspector General (“IG”) or his or her designee, provided that the designee shall have the full authority of the IG;
(4) Chief Financial Officer (“CFO”) or his or her designee, provided that the designee shall have the full authority of the CFO;
(5) Director of the Office of Personnel (“Director”) or his or her designee, provided that the designee shall have the full authority of the Director;
(6) Auditor or his or her designee, provided that the designee shall have the full authority of the Auditor;
(7) Chief Information Officer;
(8) One person designated by the Chairman of the Council Committee of the Whole; and
(9) One person designated by the Chairman of the Council Committee on Government Operations.
(b) The City Administrator shall serve as the chair of the Committee.
(c) Four members of the Committee shall constitute a quorum.
(Mar. 5, 1996, D.C. Law 11-98, § 702, 43 DCR 5; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-319.2.
Temporary Legislation
See Historical and Statutory Notes following § 47-319.01.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-C - Monitoring Committee › § 47–319.03. Compensation

§ 47–319.03. Compensation.
Members of the Committee shall receive no compensation.
(Mar. 5, 1996, D.C. Law 11-98, § 703, 43 DCR 5; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-319.3.
Temporary Legislation
See Historical and Statutory Notes following § 47-319.01.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter I-C - Monitoring Committee › § 47–319.04. Reports

§ 47–319.04. Reports.
The Committee shall submit to the Council reports on the status of the Fiscal Year 1996 budget initiatives each month or as requested by the Council.
(Mar. 5, 1996, D.C. Law 11-98, § 704, 43 DCR 5; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-319.4.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II - Borrowing › § 47–335. Permissible security

§ 47–335. Permissible security.
Any revenue bonds, notes, or other obligations authorized by an act of the Council of the District of Columbia enacted subsequent to August 1, 1981, pursuant to § 1-204.90(a), may be secured by a mortgage of real property or a security interest in any revenues, assets, or other property, notwithstanding that such mortgage or other security interest may not have been authorized by such § 1-204.90(a) as of the effective date of such act.
(Dec. 23, 1981, 95 Stat. 1493, Pub. L. 97-105, § 19(b); enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-335.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-A - Capital Review and Debt Affordability › § 47–336. Definitions

§ 47–336. Definitions.
For the purposes of this subchapter, the term:
(1) “Capital lease financings” means a lease in which the District is the lessee and which meets 1 or more of the following criteria:
(A) The lease transfers ownership of the property to the lessee by the end of the lease term;
(B) The lease allows the lessee to purchase the real property at a bargain price;
(C) The term of the lease is 75% or more of the estimated useful economic life of the real property; or
(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.
(May 24, 1994, D.C. Law 10-126, § 2, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-336.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-A - Capital Review and Debt Affordability › § 47–337. Capital Review and Debt Affordability Committee

§ 47–337. Capital Review and Debt Affordability Committee.
(a) There is established a Capital Review and Debt Affordability Committee.
(b) The Committee shall consist of the following 5 members:
(1) One individual appointed by the Mayor; and
(2) The following 4 ex officio members:
(A) The City Administrator;
(B) The Chief Financial Officer;
(C) The Director of the Department of Public Works; and
(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.
(May 24, 1994, D.C. Law 10-126, § 3, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-337.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-A - Capital Review and Debt Affordability › § 47–338. Duties of the Committee

§ 47–338. Duties of the Committee.
(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.
(c) In making the estimate the Committee shall consider the following:
(1) The amount of District general obligation bonds and capital lease financings that, during the next fiscal year:
(A) Will be outstanding; and
(B) Will be authorized but unissued;
(2) The capital budget;
(3) The multiyear capital improvements plan;
(4) Projections of debt service and capital lease payment requirements during the next 6 years;
(5) The criteria used by bond rating agencies to judge the quality of issues of District bonds; and
(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.
(f) On or before October 1 of each year, the Committee may submit to the Mayor and the Council the Committee’s recommended allocation for the following budget year of financing determined under this section for the following capital projects:
(1) Mass Transit Facilities and Equipment;
(2) Public School and Public Education Facilities and Equipment;
(3) Governmental and Public Works Facilities and Equipment;
(4) Administrative Services Facilities and Equipment;
(5) Transportation and Public Works Facilities and Equipment;
(6) Public and Assisted Housing Facilities and Equipment;
(7) Correctional and Public Safety Facilities and Equipment; and
(8) All other capital projects.
(g) In recommending the allocation, the Committee shall consider the following:
(1) A multiyear capital improvements strategy;
(2) The condition and life replacement cycle of the District’s infrastructure;
(3) The requirements for sustained economic development;
(4) The availability of matching federal grant funds;
(5) The condition of and need for public and correctional facilities;
(6) Existing contract commitments;
(7) Commitments for regional participation; and
(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.
(May 24, 1994, D.C. Law 10-126, § 4, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-338.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-A - Capital Review and Debt Affordability › § 47–339. Preliminary capital budget and multiyear capital improvements plan

§ 47–339. Preliminary capital budget and multiyear capital improvements plan.
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.
(May 24, 1994, D.C. Law 10-126, § 5, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-339.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-A - Capital Review and Debt Affordability › § 47–340. Notation of debt service requirement on real property tax bills

§ 47–340. Notation of debt service requirement on real property tax bills.
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.
(May 24, 1994, D.C. Law 10-126, § 6, 41 DCR 1814; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.02. Bond authorization

§ 47–340.02. Bond authorization.
(a) The Mayor is authorized to assist in financing, refinancing, and reimbursing costs of the development of eligible projects by:
(1) Approving the issuance, sale, and delivery of one or more series of revenue bonds in multiple separate series in an aggregate principal amount not to exceed $850,000,000; and
(2) The making of various loans, pursuant to the Home Rule Act, provided that each such contemplated project shall have been submitted for Council review and approval in accordance with § 47-340.03, and shall not have been the subject of a Council resolution of disapproval.
(b) The Mayor is authorized to make loans to various applicants for the purpose of financing, refinancing, or reimbursing the costs of development of eligible projects, pay issuance costs with respect to the bonds, and establish any fund with respect to the various series of bonds as required by the financing documents.
(c) The Mayor may charge a program fee to each applicant, including, but not limited to, an amount sufficient to cover costs and expenses incurred by the District in connection with the issuance, sale and delivery of each series of bonds and the District’s participation in monitoring of the use of bond proceeds and compliance with any public benefit agreements with the District, maintaining official records of each bond transaction and assisting in the redemption, repurchase, and remarketing of the bonds.
(Sept. 20, 1995, D.C. Law 11-46, § 3, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.2.
Editor's Notes
Delegation of Functions under the District of Columbia Self-Government and Governmental Reorganization Act of 1973 and D.C. Law 11-46, the Industrial Revenue Bond Forward Commitment Program Authorization Act of 1995: See Mayor’s Order 96-29, March 5, 1996 (43 DCR 1378).
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.03. Council review for each individual project

§ 47–340.03. Council review for each individual project.
(a) For each individual project for which there is a proposed bond series issuance, the Mayor shall submit to the Council a resolution of project approval accompanied by a summary description of the proposed project, a listing of the public purpose benefits to be derived from the proposed undertaking, the preliminary legal sufficiency determinations of the Office of the Attorney General for the District of Columbia and bond counsel, and a summary of any finding of approval by the Mayor for a 30-day period of Council review, excluding Saturdays, Sundays, legal holidays, and days of Council recess.
(b) The Council may approve, conditionally approve, or disapprove a proposed project by resolution within 30 days after the Mayor transmits to the Council the information set forth in subsection (a) of this section. Failure of the Council to take action on a resolution within the 30-day review period shall be deemed to be Council approval of the project.
(c) The Council shall transmit to the Mayor notice of expiration of the review period under subsections (a) and (b) of this section.
(Sept. 20, 1995, D.C. Law 11-46, § 4, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575; Apr. 13, 2005, D.C. Law 15-354, § 73(a)(1), 52 DCR 2638.)
Prior Codifications
1981 Ed., § 47-340.3.
Section References
This section is referenced in § 47-340.02 and § 47-340.14.
Effect of Amendments
D.C. Law 15-354 substituted “Attorney General for the District of Columbia” for “Corporation Counsel”.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.05. Sale of the bonds

§ 47–340.05. Sale of the bonds.
(a) The bonds of any series may be sold at negotiated or competitive sale at, above, or below par, to one or more persons or entities, and upon terms that the Mayor considers to be in the best interest of the District.
(b) The Mayor or an authorized delegate may execute, in relation to each sale of the bonds, offering documents on behalf of the District and may authorize the distribution of the documents in relation to the bonds being sold.
(c) The Mayor is authorized to deliver the executed and sealed bonds, on behalf of the District, for authentication, and, after the bonds have been authenticated, to deliver the bonds to the original purchasers of the bonds upon payment of the purchase price.
(d) The bonds shall not be issued until the Mayor receives an approving opinion from bond counsel as to the validity of the bonds and, if the interest on the bonds is expected to be exempt from federal income taxes, the treatment of the interest on the bonds for purposes of federal income taxation.
(Sept. 20, 1995, D.C. Law 11-46, § 6, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.5.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.06. Payment and security

§ 47–340.06. Payment and security.
(a) The principal of, premium, if any, and interest on the bonds shall be payable solely from proceeds received from the sale of the bonds, income realized from the temporary investment of those proceeds, receipts and revenues realized by the District from the loan, income realized from the temporary investment of those receipts and revenues prior to payment to the bond owners, other moneys that, as provided in the financing documents, may be made available to the District for the payment of the bonds, and other sources, other than the District, of payment, all as provided for in the financing documents.
(b) Payment of the bonds shall be secured as provided in the financing documents and by an assignment by the District for the benefit of the bond owners of certain of its rights under the financing documents and closing documents, including a security interest in certain collateral, to the trustee for the bonds pursuant to the financing documents.
(c) The trustee is authorized to deposit, invest, and disburse the proceeds received from the sale of the bonds pursuant to the financing documents.
(Sept. 20, 1995, D.C. Law 11-46, § 7, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.6.
Section References
This section is referenced in § 47-340.09.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.07. Financing and closing documents

§ 47–340.07. Financing and closing documents.
(a) The Council approves the financing documents to which the District is a party in substantially the form in which these documents are filed by the Council with the Office of the Secretary to the Council, and authorizes the Mayor to make modifications to these documents that are within the limitations of the Home Rule Act, and that the Mayor considers appropriate to carry out the purposes of this subchapter.
(b) The Mayor is authorized to prescribe the final form and content of all financing documents and all closing documents to which the District is a party that may be necessary or appropriate to issue, sell, and deliver bonds and to make loans to applicants. Each of the financing documents and each of the closing documents to which the District is not a party shall be approved, as to form and content, by the Mayor.
(c) The Mayor is authorized to execute in the name of the District, and on its behalf, any financing documents and any closing documents to which the District is a party by the Mayor’s manual or facsimile signature.
(d) The official seal of the District, or a facsimile of it, shall be impressed, printed, or otherwise reproduced on the financing documents and the closing documents to which the District is a party.
(e) The Mayor’s execution and delivery of the financing documents and the closing documents to which the District is a party shall constitute conclusive evidence of the Mayor’s approval, on behalf of the District, of the final form and content of the executed financing documents and the executed closing documents.
(f) The Mayor is authorized to deliver the executed and sealed financing documents and closing documents, on behalf of the District, prior to or simultaneously with the issuance, sale, and delivery of the bonds, and to ensure the due performance of the obligations of the District contained in the executed, sealed, and delivered financing documents and closing documents.
(Sept. 20, 1995, D.C. Law 11-46, § 8, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.7.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.08. Authorized delegation of authority

§ 47–340.08. Authorized delegation of authority.
To the extent permitted by District and federal law, the Mayor may delegate to any authorized delegate the performance of any function authorized to be performed by the Mayor under this subchapter.
(Sept. 20, 1995, D.C. Law 11-46, § 9, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.8.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.09. Limited liability

§ 47–340.09. Limited liability.
(a) The bonds shall be special obligations of the District. The bonds shall be without recourse to the District. The bonds shall not be general obligations of the District, shall not be a pledge of or involve the faith and credit or the taxing power of the District, shall not constitute a debt of the District, and shall not constitute lending of the public credit for private undertakings as prohibited in section 602(a)(2) of the Home Rule Act [§ 1-206.02(a)(2)].
(b) The bonds shall not give rise to any pecuniary liability of the District and the District shall have no obligation with respect to the purchase of the bonds.
(c) Nothing contained in the bonds, in the financing documents, or in the closing documents shall create any obligation on the part of the District to make payments with respect to the bonds from sources other than those listed for that purpose in § 47-340.06.
(d) The District shall not have liability for the payment of any issuance costs or for any transaction or event to be effected by the financing documents.
(e) All covenants, obligations, and agreements of the District contained in this subchapter, the bonds, and the executed, sealed, and delivered financing and closing documents to which the District is a party, shall be considered to be the covenants, obligations, and agreements of the District to the fullest extent authorized by law, and each of those covenants, obligations, and agreements shall be binding upon the District, subject to the limitations set forth in this subchapter.
(f) No person, including any applicant and any bond owner, shall have any claims against the District or any of its elected or appointed officials, officers, employees, or agents for monetary damages suffered as a result of the failure of the District to perform any covenant, undertaking, or obligation under this subchapter, the bonds, the financing documents, or the closing documents, nor as a result of the incorrectness of any representation in or omission from the financing documents or the closing documents, unless the District or its elected or appointed officials, officers, employees, or agents have acted in a willful and fraudulent manner.
(Sept. 20, 1995, D.C. Law 11-46, § 10, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.9.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.10. District officials

§ 47–340.10. District officials.
(a) The elected or appointed officials, officers, employees, or agents of the District shall not be liable personally for the payment of the bonds or be subject to any personal liability by reason of the issuance of the bonds, or for any representations, warranties, covenants, obligations, or agreements of the District contained in this subchapter, the bonds, the financing documents, or the closing documents.
(b) The signature, countersignature, facsimile signature, or facsimile countersignature of any official appearing on the bonds, the financing documents, or the closing documents shall be valid and sufficient for all purposes, notwithstanding the fact that the official ceases to be that official before delivery of the bonds, the financing documents, or the closing documents.
(Sept. 20, 1995, D.C. Law 11-46, § 11, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.10.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.11. Maintenance of documents

§ 47–340.11. Maintenance of documents.
Copies of the specimen bonds and of the final financing documents and closing documents shall be filed in the Office of the Secretary of the District.
(Sept. 20, 1995, D.C. Law 11-46, § 12, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.11.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.12. Information reporting

§ 47–340.12. Information reporting.
Within 3 days after the Mayor’s receipt of the transcript of proceedings relating to the issuance of any series of bonds, the Mayor shall transmit a copy of this transcript to the Secretary to the Council.
(Sept. 20, 1995, D.C. Law 11-46, § 13, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.12.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.13. Disclaimer

§ 47–340.13. Disclaimer.
(a) The issuance of bonds is in the discretion of the District. Nothing contained in this subchapter, including, but not limited to, the bonds, the financing documents, the closing documents or the Council resolution, shall be construed as obligating the District to issue any bonds for the benefit of any applicant or to participate in or assist any applicant in any way with financing, refinancing, or reimbursing the costs of the development of any project. The applicant shall have no claims for damages or for any other legal or equitable relief against the District, its elected or appointed officials, officers, employees, or agents as a consequence of any failure to issue any bonds for the benefit of any applicant.
(b) The District reserves the right to issue its bonds in the order or priority it determines in its sole and absolute discretion. The District gives no assurance and makes no representations that any portion of any limited amount of bonds, the interest on which is excludable from gross income for federal income tax purposes, will be reserved or will be available at the time of the proposed issuance of any bonds authorized by this subchapter.
(c) The District, by enacting this subchapter or by taking any other action in connection with financing, refinancing, or reimbursing any project, does not provide any assurance that the project is viable or sound, that the applicant is financially sound, or that amounts owing on any bonds or under any loan will be paid. Neither the applicant, any purchaser of the bonds, nor any other person shall rely upon the District with respect to these matters.
(Sept. 20, 1995, D.C. Law 11-46, § 14, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.13.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.14. Expiration

§ 47–340.14. Expiration.
If any series of bonds is not issued, sold, and delivered to the original purchaser within 3 years of the date of Council approval of a project pursuant to § 47-340.03, the authorization provided in this subchapter with respect to the issuance, sale, and delivery of such series of bonds shall expire.
(Sept. 20, 1995, D.C. Law 11-46, § 15, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.14.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.15. Severability

§ 47–340.15. Severability.
If any particular provision of this subchapter, or the application thereof to any person or circumstance, is held invalid, the remainder of this subchapter and the application of such provision to other persons or circumstances shall not be affected thereby. If any action or inaction contemplated under this subchapter is determined to be contrary to the requirements of applicable law, such action or inaction shall not be necessary for the purpose of issuing of the bonds authorized by this subchapter, and the validity of the bonds shall not be adversely affected.
(Sept. 20, 1995, D.C. Law 11-46, § 16, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.15.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-B - Industrial Revenue Bond Forward Commitment Program › § 47–340.16. Conflict of laws

§ 47–340.16. Conflict of laws.
The procedures set forth in this subchapter shall prevail over any other subchapter of the Council or provision of District law that might be deemed to be inconsistent with this subchapter.
(Sept. 20, 1995, D.C. Law 11-46, § 17, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
Prior Codifications
1981 Ed., § 47-340.16.
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-C - Industrial Revenue Bond Fees › § 47–340.20. Program fee

§ 47–340.20. Program fee.
The Mayor may assess fees in connection with the provision to any for-profit or not for profit entity of loans, grants, credit support, revenue bonds, notes or other obligations authorized pursuant to federal law or regulations or any act or resolution of the Council of the District of Columbia. Such fees shall be in amounts reasonably calculated to defray costs associated with developing, implementing, administering, monitoring, evaluating or otherwise supporting such financial assistance for economic development purposes.
(Mar. 20, 1998, D.C. Law 12-60, § 502(b), 44 DCR 7378; Oct. 19, 2000, D.C. Law 13-172, § 2002, 47 DCR 6308.)
Prior Codifications
1981 Ed., § 47-340.20.
Section References
This section is referenced in § 47-340.21 and § 47-340.23.
Effect of Amendments
D.C. Law 13-172 rewrote this section which formerly provided: “The Mayor may charge a program fee to each entity on whose behalf the District of Columbia issues industrial revenue bonds authorized pursuant to § 47-334 in an amount sufficient to cover costs and expenses incurred by the District, including those incurred in connection with the issuance, sale, and delivery of bonds, the District’s participation in monitoring the use of bond proceeds and compliance with contracts and public benefit requirements, the maintenance of official records of transactions, the assistance in the redemption, repurchase, and remarketing of the bonds, and other activities related to the loan and disposition of revenue bond proceeds.”
Short Title
Industrial Revenue Bond Fees Act of 1997: Section 501 of D.C. Law 12-60 provided that § 502 of the act may be cited as the “Industrial Revenue Bond Fees Act of 1997.”
2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds › Subchapter II-C - Industrial Revenue Bond Fees › § 47–340.21. Deposit of fees and other monies

§ 47–340.21. Deposit of fees and other monies.
Fees authorized under § 47-340.20 and the earnings thereon, capital, and other funds appropriated by Council, and such additional monies that may be contributed from any lawful source shall be deposited in an account to be known as the District of Columbia Great Streets Development Account (“Account”), that shall be a sub-account of the special account established under § 47-131(c)(4).
(Mar. 20, 1998, D.C. Law 12-60, § 502(b), 44 DCR 7378; Oct. 19, 2000, D.C. Law 13-172, § 2002, 47 DCR 6308; Oct. 3, 2001, D.C. Law 14-28, § 1102, 48 DCR 6981; Oct. 20, 2005, D.C. Law 16-33, § 2112(b), 52 DCR 7503.)
Prior Codifications
1981 Ed., § 47-340.21.
Section References
This section is referenced in § 47-340.22.
Effect of Amendments
D.C. Law 13-172 inserted “, which shall be a sub-account of the special account”.
D.C. Law 14-28 rewrote the section which had read as follows: “Program fees and the earnings thereon authorized under § 47-340.20 shall be deposited in the industrial revenue bond program fee account, which shall be a sub-account of the special account established under § 47-131(c)(4).”
D.C. Law 16-33 rewrote section, which had read as follows: “Program fees and the earnings thereon authorized under § 47-340.20 shall be deposited in the industrial revenue bond special account established under § 47-131(c)(4).”
Emergency Legislation
For temporary (90 day) amendment of section, see § 1002 of Fiscal Year 2002 Budget Support Emergency Act of 2001 (D.C. Act 14-124, August 3, 2001, 48 DCR 7861).
For temporary (90 day) amendment of section, see § 2112(b) of Fiscal Year 2006 Budget Support Emergency Act of 2005 (D.C. Act 16-168, July 26, 2005, 52 DCR 7667).
Editor's Notes
Application of Law 12-60: See Historical and Statutory Notes following § 47-340.20.
Industrial Revenue Bond Fees Act of 1997: See Historical and Statutory Notes following § 47-340.20.