§ 47–1807.14. Retailer property tax relief credit.

(a) For the purposes of this section, the term:

(1) "Qualified corporation" means a corporation that:

(A) Is engaged in the business of making sales at retail and files a sales tax return pursuant to Chapter 20 of this title reflecting those sales;

(B) Has less than $2,500,000 in federal gross receipts or sales; and

(C) Is current on all District tax filings and payments.

(2) "Qualified retail rental location" means a building or part of a building in the District that during the taxable year is:

(A) A retail establishment as defined in § 47-2001(m);

(B) The primary place of the retail business of the qualified corporation;

(C) Leased by the qualified corporation; and

(D) Classified, in whole or in part, as Class 2 Property, as defined in § 47-813 and has obtained a Certificate of Occupancy for commercial use.

(3) "Qualified retail owned location" means a building or part of a building in the District that during the taxable year is:

(A) The primary place of the retail business of the qualified corporation;

(B) Owned by the qualified corporation; and

(C) Classified, in whole or in part, as Class 2 Property, as defined in § 47-813 and has obtained a Certificate of Occupancy for commercial use.

(b) For taxable years beginning after December 31, 2017, a qualified corporation may claim a credit against the tax imposed by this chapter as follows:

(1) A tax credit equal to 10% of the total rent paid by the corporation for a qualified rental retail location during the taxable year not to exceed $5,000; or

(2) A tax credit equal to the total Class 2 real property taxes, pursuant to § 47-811, paid by the qualified corporation for a qualified retail owned location during the taxable year not to exceed the lesser of the real property tax paid during the taxable year or $5,000.

(c) The credit claimed under this section in any one taxable year may exceed the qualified corporation's tax liability, including any minimum tax due under § 47-1807.02(b), under this chapter for that taxable year and shall be refundable to the corporation claiming the credit.

(d) This section shall not apply if:

(1) The qualified corporation receives any tax credits towards payment of the real property tax for the qualified rental retail location or qualified owned retail location; or

(2) The qualified rental retail location or qualified owned retail location is exempt from real property tax.