(a) The real property located at 1325 W Street, N.W., Washington, D.C., and described as Lot 2010, Square 234, shall be exempt from real property taxation, and interests in the property shall be exempt from possessory interest taxation so long as the real property continues to be:
(1) Used and occupied by the Young Men’s Christian Association of Metropolitan Washington (“YMCA DC”);
(2) Owned by YMCA DC or the Young Men’s Christian Association Community Investment Initiative (“YMCA CII”); and
(3) Used for carrying out the charitable functions of the YMCA DC, subject to the provisions of §§ 47-1005, 47-1007, and 47-1009 as if the exemption had been granted administratively.
(b)(1) Any transfer, assignment, or other disposition of all or any portion of the real property described in subsection (a) of this section to YMCA DC or YMCA CII, any security interest instrument with respect to the property given by YMCA DC or YMCA CII to a third party lender, or a lease of the property between YMCA DC and YMCA CII shall be exempt from the tax imposed by § 42-1103, so long as the real property continues to be used and occupied by YMCA DC; and
(2) Any transfer, assignment, or other disposition of all or any portion of the real property described in subsection (a) of this section by YMCA DC or YMCA CII, including a lease of the property between YMCA DC and YMCA CII, shall be exempt from the tax imposed by § 47-903, so long as the real property continues to be used and occupied by YMCA DC.
(c) The exemptions set forth in this section shall apply to successor nonprofit entities formed by YMCA DC for purposes of meeting requirements under the New Market Tax Credit provided by section 45D of the Internal Revenue Code of 1986, so long as the real property continues to be used and occupied by YMCA DC.
(d) The Council orders that all real property tax, penalties, interest, fees, and other related charges assessed against the real property described in subsection (a) of this section through the end of the month during which this act becomes effective be forgiven, and that any payments already made be refunded. The Council further orders that all recordation and transfer taxes, penalties, and interest collected with respect to the transfers described in subsection (b) of this section through the end of the month during which this act becomes effective be forgiven and payments already made be refunded.
(Feb. 22, 2014, D.C. Law 20-67, § 2(b), 61 DCR 16.)
For temporary (90 days) addition of § 47-1089, concerning the YMCA Community Investment Initiative, Lot 2010, Square 234, see § 2 of the YMCA Community Investment Initiative Real Property Tax Exemption Emergency Act of 2013 (D.C. Act 20-88, June 19, 2013, 60 DCR 9546, 20 DCSTAT 1449).
For temporary (90 days) addition of § 47-1089, see §§ 2 and 3 of the YMCA Community Investment Initiative Real Property Tax Exemption Congressional Review Emergency Act of 2013, (D.C. Act 20-178, October 4, 2013, 60 DCR 14944).
For temporary (225 days) addition of § 47-1089, concerning the YMCA Community Investment Initiative, Lot 2010, Square 234, see § 2 of the YMCA Community Investment Initiative Real Property Tax Exemption Temporary Act of 2013 (D.C. Law 20-23, October 3, 2013, 60 DCR 10884).
Applicability of D.C. Law 20-67: Section 3 of D.C. Law 20-67 provided that the act shall apply as of May 28, 2013.
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