To amend, on an emergency basis, Chapter 46 of Title 47 of the District of Columbia Official Code to exempt Business Improvement Districts from certain taxation.
BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "Business Improvement Districts Tax Exemption Emergency Amendment Act of 2017".
Sec. 2. Chapter 46 of Title 47 of the District of Columbia Official Code is amended as follows:
(a) The table of contents is amended by adding a new section designation to read as follows:
"47-4666. BID corporation – tax exemptions.
(b) A new section 47-4666 is added to read as follows:
Sec. 47-4666. BID corporation – tax exemptions.
"(a)(1) Except as provided in subsection (b) of this section, a BID corporation, as defined in section 3(4) of the Business Improvement Districts Act of 1996, effective May 29, 1996 (D.C. Law 11-134; D.C. Official Code § 2-1215.02(4)), its real and personal property, income, and transactions, shall be exempt from District taxation, including, without limitation, sales, use, franchise, gross sales or receipts, income, personal or real property, transfer, or excise taxes.
"(2) A BID shall obtain a certificate of exemption from the Mayor, as required by law or regulation.
"(b) A BID corporation shall not be exempt from employment or withholding taxes.
"(c) The Council orders that all unpaid taxes described in subsection (a)(1) of this section, including any interest, penalties, fees, and other related charges assessed from May 29, 1996, through the effective date of this section be forgiven.".
Sec. 3. Fiscal impact statement.
The Council adopts the fiscal impact statement of the Chief Financial Officer as the fiscal impact statement required by section 4a of the General Legislative Procedures Act of 1975, approved October 16, 2006 (120 Stat. 2038; D.C. Official Code § 1-301.47a).
Sec. 4. Effective date.
This act shall take effect following approval by the Mayor (or in the event of veto by the Mayor, action by the Council to override the veto), and shall remain in effect for no longer than 90 days, as provided for emergency acts of the Council of the District of Columbia in section 412(a) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 788; D.C. Official Code § 1-204.12(a)).