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The DC Code: § 47-4631 OTO Hotel at Constitution Square Project-tax exemptions. [Not funded]

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

Historical and Statutory

Legislative History of Laws Law 18-188, the "OTO Hotel at Constitution Square Economic Development Act of 2010", was introduced in Council and assigned Bill No. 18-431, which was referred to the Committee on Finance and Revenue. The Bill was adopted on first and second readings on March 16, 2010, and April 20, 2010, respectively. Signed by the Mayor on May 11, 2010, it was assigned Act No. 18-400 and transmitted to both Houses of Congress for its review. D.C. Law 18-188 became effective on July 1, 2010. Miscellaneous Notes Section 3 of D.C. Law 18-188 provides: "Sec. 3. Applicability. "(a) The real property tax abatement of new D.C. Official Code § 47- 4631(b)(1) shall apply as of the date that the real property tax abatement under D.C. Official Code § 47-4612(b)(1) and (2) has reached the aggregate limitation imposed by D.C. Official Code § 47-4612(b)(3). "(b) This act shall apply upon the inclusion of its fiscal effect in an approved budget and financial plan." The Budget Director of the Council of the District of Columbia has determined, as of February 15, 2012, that the fiscal effect of Law 18-188 has not been included in an approved budget and financial plan. Therefore, the provisions of this section, enacted by Law 18-188, are not in effect. DC CODE § 47-4631 Current through December 11, 2012

Credits

(July 1, 2010, D.C. Law 18-188, § 2(b), 57 DCR 4497.)