RSSIncome Tax Secured Bonds, et. al.
Councilmember Jack Evans, Chairman of the Committee on Finance and Revenue, announces a public hearing to be held on Wednesday, October 26, 2011 at 10:00 a.m., in Room 412 of the John A. Wilson Building, 1350 Pennsylvania Avenue, N.W., Washington, D.C. 20004.
PR 19-368, the “Fiscal Year 2012 Income Tax Secured Bond and General Obligation Bond Issuance Approval Resolution of 2011”, would approve the borrowing of funds by the District through the issuance and sale of either income tax secured revenue bonds or general obligation bonds in an aggregate principal amount not to exceed $450,148,768.
Bill 19-164, the “Schedule H Property Tax Relief Act of 2011”, would amend section 47-06.06 of the District of Columbia Official Code to expand access to property tax relief for low-income residents living in D.C. by increasing the Schedule H income requirement ceiling from $20,000 to $50,000, by increasing the maximum benefit from $750 to $1,000, by changing the existing property tax equivalent amount from 15% to 20%, by allowing a tax filing unit to apply per household instead of one person filing per household, by adding a cost of living adjustment to the Schedule H, and by simplifying the property tax rate structure currently in place.Bill 19-188, the “Combined Condominium Real Property Tax Act of 2011”, would amend Chapter 11 of Title 10 and Chapter 19 of Title 42 of the District of Columbia Code to provide for the ability to combine abutting condominium units that form a single dwelling unit into one tax lot for real property assessment and taxation purposes.
Bill 19-257, the “Real Estate Broker Licensure Exemption Act of 2011” would amend the Chapter 28 of Title 47 of the District of Columbia Official Code to exempt from real estate broker licensure principals, officers and staff members of an entity that perform leasing activities to the extent that such person’s services are limited to leasing, renting or collection of rents involving real property owned in whole or in part by such entity and/or its affiliates.
Bill 19-279, “National Capital Revitalization Corporation and Anacostia Waterfront Corporation Reorganization Act of 2008 Clarification Amendment Act of 2011” would amend the National Capital Revitalization Corporation and Anacostia Waterfront Corporation Reorganization Act of 2008 (the “NCRC Act”) to modify the definition of “priority development area” that was transferred from the NCRC Act to the Supermarket Tax Exemption Act of 2000, so the definition includes the area bounded by M, I, 3rd and 6th Streets SW, as was originally designated as a “priority development area” in the National Capital Revitalization Corporation Act of 1998.
Bill 19-280, the “Streetscape Taxation Property Relief Act of 2011” would amend Title 47 of the District of Columbia Official Code to allow business and commercial property owners, who were substantially impacted by streetscape construction, to have penalties and interest for delayed real property tax payments waived, provided that they can demonstrate the streetscape project resulted in a substantial loss of revenue, and that their property was not classified as Class 4 by the Office of Tax and Revenue.
The Committee invites the public to testify at the public hearing. Those who wish to testify should register online or contact Sarina Loy, Committee Assistant at (202) 724-8058 or sloy@dccouncil.us, and provide your name, organizational affiliation (if any), and title with the organization by 10:00 a.m. on Tuesday, October 25, 2011. Witnesses should bring 15 copies of their written testimony to the hearing. The Committee allows individuals 3 minutes to provide oral testimony in order to permit each witness an opportunity to be heard. Additional written statements are encouraged and will be made part of the official record. Written statements may be submitted by e-mail to sloy@dccouncil.us or mailed to: Council of the District of Columbia; 1350 Pennsylvania Ave., N.W.; Suite 114; Washington D.C. 20004.
