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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) There is established as a special fund the Recorder of Deeds Automation Fund (“Fund”), which shall be administered by the Chief Financial Officer in accordance with subsections (b) and (b-1) of this section.
(a-1) Notwithstanding § 42-1212, the following revenue shall be deposited in the Fund:
(1) All funds collected pursuant to § 42-1211;
(2) Costs and charges collected under § 47-876; and
(3) Charges collected under § 47-1340(h).
(b) Revenues accruing to the Fund shall be used solely and exclusively to cover the costs of updating the automated system of the Recorder of Deeds. These costs shall include the purchasing of computer hardware and software, maintenance of the new computer system, training staff to implement and operate the new system.
(b-1) Notwithstanding subsection (b) of this section, revenues accounted for and deposited into the Fund under the authority of §§ 47-876 and 47-1340(h), together with interest accruing thereon, shall be used solely and exclusively by the Real Property Tax Administration of the Office of Tax and Revenue for the purposes under which the revenue was charged and collected.
(c) Repealed.
(d) Any money remaining available in the Fund at the end of a fiscal year, as determined by the Chief Financial Officer in the fiscal year-end close, shall be transferred to the unassigned fund balance of the General Fund of the District of Columbia as part of the fiscal year-end close.
(e) Nothing in this section shall be construed to prohibit or limit the appropriation of additional funds from the revenues of the District for the operations of the Real Property Tax Administration of the Office of Tax and Revenue, including appropriations to support the purposes specified in subsections (b) and (b-1) of this section. The revenues accruing to the Fund shall be considered as supplementing and enhancing the operations of the Real Property Tax Administration of the Office of Tax and Revenue, and are not intended to be used to supplant support for the Real Property Tax Administration of the Office of Tax and Revenue provided through the general funds of the District.
Cite this article: FindLaw.com - District of Columbia Code Division VII. Property. § 42-1214. Recorder of Deed Automation Improvement Fund. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-vii-property/dc-code-sect-42-1214/
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 before relying on it for your legal needs.
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