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]
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.
Title
Limited Equity Cooperative Property Tax Assistance Amendment Act of 2021
Sponsors
Cnc. Anita Bonds [D] | Cnc. Robert White [D] | Cnc. Brianne Nadeau [D] | Cnc. Christina Henderson [I] |
Cnc. Brooke Pinto [D] | Cnc. Mary Cheh [D] |
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]
2022-11-01 - Council - First Reading, CC (Y: 12 N: 0 NV: 0 Abs: 1) [PASS]
History
Date | Chamber | Action |
---|---|---|
2023-01-10 | Council | Transmitted to Congress, Projected Law Date is Mar 08, 2023 |
2022-12-16 | Council | Act A24-0684 Published in DC Register Vol 69 and Page 015094 |
2022-12-08 | Council | Returned from Mayor |
2022-12-08 | Council | Signed by the Mayor and Enacted with Act Number A24-0684 |
2022-11-28 | Council | Transmitted to Mayor, Response Due on December 12, 2022 |
2022-11-15 | Council | Final Reading, CC |
2022-11-01 | Council | First Reading, CC |
2022-10-27 | Council | Committee Report Filed |
2022-10-21 | Council | Committee Mark-up of B24-0431 |
2022-10-20 | Council | Notice of Mark-up filed in the Office of Secretary |
2022-06-24 | Council | Public Hearing Held |
2022-06-10 | Council | Notice of Public Hearing Published in the DC Register |
2022-06-08 | Council | Public Hearing Cancelled |
2022-06-08 | Council | Public Hearing Cancelled |
2022-06-06 | Council | Cancellation Notice of Public Hearing Filed |
2022-06-06 | Council | Cancellation Notice of Public Hearing Filed |
2022-06-06 | Council | Notice of Public Hearing Published in the DC Register |
2022-05-13 | Council | Notice of Public Hearing Published in the DC Register |
2022-05-05 | Council | Notice of Public Hearing Published in the DC Register |
2021-10-22 | Council | Notice of Intent to Act on B24-0431 Published in the DC Register |
2021-10-19 | Council | Referred to Committee on Housing and Executive Administration |
2021-10-04 | Council | Introduced in Office of the Secretary |