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The DC Code: § 47-340.22 Allocation of funds.

Index47 Taxation, Licensing, Permits, Assessments, and Fees. (Refs & Annos)

Monies credited to the Account established under § 47-340.21 shall be allocated annually to the Office of the Deputy Mayor for Planning and Economic Development in an aggregate amount that is equal to the total deposits and earnings that have accrued during the immediately preceding fiscal year. Monies remaining in the Account at the end of any fiscal year shall not revert to the General Fund, but shall remain in the Account.

Historical and Statutory

Prior Codifications 1981 Ed., § 47-340.22. Effect of Amendments D.C. Law 13-38 and D.C. Law 13-172 rewrote this section which formerly provided: "Subject to authorization in a Congressional appropriations act, funds credited to the Industrial Revenue Bond Program Fee Account shall be allocated annually to the office, agency, or department of the District government responsible for administering the industrial revenue bond program fees and earnings thereon." D.C. Law 13-226 substituted "funds in excess of $5 million or in excess of" for "funds in excess of". D.C. Law 14-28 rewrote the section which had read as follows: "Beginning in Fiscal year 2001, funds credited to the industrial revenue bond program fee account established under § 47-340.21 shall be allocated annually to the Office of the Deputy Mayor for Planning and Economic Development in an aggregate amount that is equal to the program fees paid and the earnings that have accrued during the immediately preceding fiscal year, provided that funds in excess of those needed for the purposes set forth in § 47-340.23 shall be part of the local funds within the General Fund." D.C. Law 14-190 substituted "at the designation of the Council, or at the designation of the Mayor or Deputy Mayor for Planning and Economic Development, with the approval of the Council" for "for Fiscal Year 2002". D.C. Law 15-105 validated a previously made technical correction. D.C. Law 16-33 rewrote section, which had read as follows: "Funds credited to the industrial revenue bond special account established under § 47-131(c)(4) shall be allocated for each fiscal year to the Office of the Deputy Mayor for Planning and Economic Development or, at the designation of the Council, or at the designation of the Mayor or Deputy Mayor for Planning and Economic Development, with the approval of the Council, for economic development programs or initiatives in other District agencies in an amount equal to the program fees paid and the earnings that have accrued, and the program fees expected to be paid and the earnings that are expected to accrue, during the immediately preceding fiscal year, plus any other funds remaining in the account; provided, that funds which are credited to the special account but which are not designated for expenditure under an approved spending plan under § 47-340.23 by the beginning of the fiscal year shall become part of the local funds within the General Fund." Temporary Addition of Section See Historical and Statutory Notes following § 47-340.20. Emergency Act Amendments See Historical and Statutory Notes following § 47-340.20. For temporary (90-day) addition of section, see § 2602 of the Service Improvement and Fiscal Year 2000 Budget Support Emergency Act of 1999 (D.C. Act 13-110, July 28, 1999, 46 DCR 6320). For temporary (90-day) amendment of section, see § 2002 of the Fiscal Year 2001 Budget Support Emergency Act of 2000 (D.C. Act 13-376, July 24, 2000, 47 DCR 6574). For temporary (90-day) amendment of section, see § 4 of the Fiscal Year 2001 Budget Support Second Emergency Amendment Act of 2000 (D.C. Act 13-393, August 14, 2000, 47 DCR 7032). For temporary (90 day) amendment of section, see § 2002 of the Fiscal Year 2001 Budget Support Congressional Review Emergency Act of 2000 (D.C. Act 13-438, October 20, 2000, 47 DCR 8740). For temporary (90 day) amendment of section, see § 4(b) of the Redevelopment Land Agency Disposition Review Congressional Review Emergency Amendment Act of 2000 (D.C. Act 13-524, January 11, 2001, 48 DCR 624). 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 § 1122 of Fiscal Year 2003 Budget Support Emergency Act of 2002 (D.C. Act 14-453, July 23, 2002, 49 DCR 8026). 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). Legislative History of Laws For legislative history of D.C. Law 12-60, see Historical and Statutory Notes following § 47-340.20. Law 13-38, the "Service Improvement and Fiscal Year 2000 Budget Support Act of 1999," was introduced in Council and assigned Bill No. 13-161, which was referred to the Committee of the Whole. The Bill was adopted on first and second readings on May 11, 1999, and June 22, 1999, respectively. Signed by the Mayor on July 8, 1999, it was assigned Act No. 13-111 and transmitted to both Houses of Congress for its review. D.C. Law 13-38 became effective on October 20, 1999. For Law 13-172, see notes following § 47-340.20. Law 13-226, the "Redevelopment Land Agency Disposition Review Amendment Act of 2000", was introduced in Council and assigned Bill No. 13-185, which was referred to the Committee Economic Development. The Bill was adopted on first and second readings on July 11, 2000, and November 8, 2000, respectively. Signed by the Mayor on November 29, 2000, it was assigned Act No. 13-498 and transmitted to both Houses of Congress for its review. D.C. Law 13-226 became effective on April 3, 2001. For Law 14-28, see notes following § 47-308.01. For Law 14-190, see notes following § 47-308.01. Law 15-105, the "Technical Amendments Act of 2003", was introduced in Council and assigned Bill No. 15-437, which was referred to the Committee of the Whole. The Bill was adopted on first and second readings on November 4, 2003, and December 2, 2003, respectively. Signed by the Mayor on January 6, 2004, it was assigned Act No. 15-291 and transmitted to both Houses of Congress for its review. D.C. Law 15-105 became effective on March 13, 2004. For Law 16-33, see notes following § 47-308.01. Miscellaneous Notes Industrial Revenue Bond Fees Act of 1997: See Historical and Statutory Notes following § 47-340.20. Short title of subtitle B of title XI of Law 14-190: Section 1121 of D.C. Law 14-190 provided that subtitle B of title XI of the act may be cited as the Industrial Revenue Bond Special Account Act of 2002. DC CODE § 47-340.22 Current through December 11, 2012

Credits

(Mar. 20, 1998, D.C. Law 12-60, § 502(b), 44 DCR 7378; Oct. 20, 1999, D.C. Law 13-38, § 2602, 46 DCR 6373; Oct. 19, 2000, D.C. Law 13-172, § 2002, 47 DCR 6308; Apr. 3, 2001, D.C. Law 13-226, § 4(b), 48 DCR 1603; Oct. 3, 2001, D.C. Law 14-28, § 1102, 48 DCR 6981; Oct. 1, 2002, D.C. Law 14-190, § 1122, 49 DCR 6968; Mar. 13, 2004, D.C. Law 15-105, § 75(b), 51 DCR 881; Oct. 20, 2005, D.C. Law 16-33, § 2112(b), 52 DCR 7503.)