DC B24-0431 | 2021-2022 | 24th Council

Status

Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Passed on December 8 2022 - 100% progression
Action: 2023-01-10 - Transmitted to Congress, Projected Law Date is Mar 08, 2023
Text: Latest bill text (Enrolled) [PDF]

Summary

As introduced Bill 24-431 would clarify the definition of a limited equity cooperative (LEC) to include those that have membership limitations in its articles of incorporation or organization, limit the household income of a buyer, and requires a vote of at least 2/3 of its membership to amend its articles of incorporation or organization. It would also make the property tax abatement for LECs permanent for those households that meet certain income levels. FUNDING NOTE - This bill is Subject to Appropriations. Please see the Fiscal Impact Statement for more information. RACIAL EQUITY ANALYSIS NOTE - Removing the requirement for LECs to limit the resale price of units will likely have a negative impact on housing outcomes for Black, Indigenous, and other residents of color. The bill’s new criteria for LECs’ articles of incorporation, member voting, and residency status will have an inconclusive impact on Black, Indigenous, and other residents of color. Making permanent the LEC property tax exemption will improve economic and housing outcomes for Black, Indigenous, and other residents of color. Lowering the income threshold criteria for LECs to qualify for the property tax exemption will have an inconclusive impact for Black, Indigenous, and other residents of color.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Limited Equity Cooperative Property Tax Assistance Amendment Act of 2021

Sponsors


Roll Calls

2022-11-15 - Council - Final Reading, CC (Y: 12 N: 0 NV: 0 Abs: 1) [PASS]
2022-11-01 - Council - First Reading, CC (Y: 12 N: 0 NV: 0 Abs: 1) [PASS]

History

DateChamberAction
2023-01-10CouncilTransmitted to Congress, Projected Law Date is Mar 08, 2023
2022-12-16CouncilAct A24-0684 Published in DC Register Vol 69 and Page 015094
2022-12-08CouncilReturned from Mayor
2022-12-08CouncilSigned by the Mayor and Enacted with Act Number A24-0684
2022-11-28CouncilTransmitted to Mayor, Response Due on December 12, 2022
2022-11-15CouncilFinal Reading, CC
2022-11-01CouncilFirst Reading, CC
2022-10-27CouncilCommittee Report Filed
2022-10-21CouncilCommittee Mark-up of B24-0431
2022-10-20CouncilNotice of Mark-up filed in the Office of Secretary
2022-06-24CouncilPublic Hearing Held
2022-06-10CouncilNotice of Public Hearing Published in the DC Register
2022-06-08CouncilPublic Hearing Cancelled
2022-06-08CouncilPublic Hearing Cancelled
2022-06-06CouncilCancellation Notice of Public Hearing Filed
2022-06-06CouncilCancellation Notice of Public Hearing Filed
2022-06-06CouncilNotice of Public Hearing Published in the DC Register
2022-05-13CouncilNotice of Public Hearing Published in the DC Register
2022-05-05CouncilNotice of Public Hearing Published in the DC Register
2021-10-22CouncilNotice of Intent to Act on B24-0431 Published in the DC Register
2021-10-19CouncilReferred to Committee on Housing and Executive Administration
2021-10-04CouncilIntroduced in Office of the Secretary

Washington D.C. State Sources


Bill Comments

feedback