(a) The real property, described as Lot 78, Square 2855 (“real property”), which will be transferred from NCBA Housing Development Corporation of the District of Columbia, a District of Columbia nonprofit corporation, to Samuel J. Simmons NCBA Estates No. 1 Limited Partnership, shall be exempt from the tax imposed by Chapter 8 of this title so long as the real property is owned by Samuel J. Simmons NCBA Estates No. 1 Limited Partnership, or its successors and assigns, and is used to provide housing for low-income and moderate-income elderly District residents.
(b) The exemption under subsection (a) of this section shall be subject to the provisions of §§ 47-1005, 47-1007, and 47-1009.
(c) The conveyance of the real property from NCBA Housing Development Corporation of the District of Columbia to Samuel J. Simmons NCBA Estates No. 1 Limited Partnership shall be exempt from the tax imposed by § 42-1103 and § 47-903.
(Mar. 12, 2011, D.C. Law 18-311, § 2(b), 57 DCR 12396.)
For temporary (90 day) repeal of section 4 of D.C. Law 18-311, see § 7003 of Fiscal Year 2013 Budget Support Emergency Act of 2012 (D.C. Act 19-383, June 19, 2012, 59 DCR 7764).
For temporary (90 day) repeal of section 4 of D.C. Law 18-311, see § 7003 of Fiscal Year 2013 Budget Support Congressional Review Emergency Act of 2012 (D.C. Act 19-413, July 25, 2012, 59 DCR 9290).
Sections 3 and 4 of D.C. Law 18-311 provided:
“Sec. 3. Sunset. This act shall expire 360 months after its effective date.
“Sec. 4. Applicability. This act shall apply upon the inclusion of its fiscal effect in an approved budget and financial plan.”
D.C. Law 18-311, § 4, was repealed by D.C. Law 19-168, § 7003.
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