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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) During the contribution period, the sales and use tax revenue attributable to the Waterfront Park Retail Area shall be allocated and deposited into the Waterfront Park Maintenance Fund in the following amounts:
(1) In the 12-month period beginning July 1, 2012, $380,000--or the amount of sales and use tax revenue attributable to the Waterfront Park Retail Area--if less than $380,000;
(2) In each 12-month period beginning on each July 1 thereafter that is within the contribution period, an amount equal to $380,000, increased annually by the cost-of-living adjustment (if the adjustment does not result in a multiple of $50, rounded to the next lowest multiple of $50)--or the amount of sales and use tax revenue attributable to the Waterfront Park Retail Area -- if less.
(b) All sales and use tax revenue and revenue from the Waterfront Park Special Assessment received by the Chief Financial Officer by the 20th day of a month shall be deposited into the Fund by the Chief Financial Officer by the last business day of the following month.
Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 10-1804. Allocation of sales tax revenue attributable to the Waterfront Park Retail Area. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-10-1804/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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