2023 District of Columbia Code › Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title] › Chapter 46 - Special Tax Incentives › § 47–4639. King Towers residential housing rental project; Lot 49, Square 281

§ 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.
(Oct. 15, 2010, D.C. Law 18-237, § 2(b), 57 DCR 7162; July 13, 2012, D.C. Law 19-153, § 2, 59 DCR 5138.)
Effect of Amendments
D.C. Law 19-153 rewrote the section, which formerly read:
“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.”
Emergency Legislation
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).
Short Title
Section 7001 of D.C. Law 20-61 provided that Subtitle A of Title VII of the act may be cited as the “Subject to Appropriations Repealers Amendment Act of 2013”.
Editor's Notes
Section 3 of D.C. Law 19-153 provided: “Sec. 3. Applicability. This act shall apply upon the inclusion of its fiscal effect in an approved budget and financial plan.”
Section 7006 of D.C. Law 20-61 repealed D.C. Law 19-153, § 3.