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District of Columbia Code Division VIII. General Laws. § 47-919. Disposition of monies collected.

Current as of January 01, 2024 | Updated by Findlaw Staff

All monies collected under this chapter shall be deposited in the General Fund, except that:

(a) In fiscal years ending before October 1, 2023:

(1) 15% of the monies collected under this chapter shall be deposited into the Housing Production Trust Fund established by § 42-2802 (“Housing Production Trust Fund”);

(2) 85% of the monies collected under this chapter for the transfer of Lots 836, 837 and 855 in Square 37, or such successor record or assessment and taxation lots as may be created through future subdivision or creation of condominium units, shall be deposited in the West End Library and Fire Station Maintenance Fund established by § 1-325.181 (“West End Library and Fire Station Maintenance Fund”);

(b) In Fiscal Years 2024, 2025, 2026, and 2027:

(1) The lesser of the following amounts shall be deposited in the Housing Production Trust Fund:

(A) 15% of the monies collected under this chapter; or

(B) 102% of the amount deposited into the Housing Production Trust Fund in the prior fiscal year pursuant to this section;

(2) 85% of the monies collected under this chapter for the transfer of Lots 836, 837 and 855 in Square 37, or such successor record or assessment and taxation lots as may be created through future subdivision or creation of condominium units, shall be deposited in the West End Library and Fire Station Maintenance Fund; and

(c) In fiscal years beginning on or after October 1, 2027:

(1) 15% of the monies collected under this chapter shall be deposited into the District of Columbia Housing Authority capital project DEVELOPMENT AND REHABILITATION-DCHA.

(2) 15% of the monies collected under this chapter shall be deposited into the Housing Production Trust Fund; and

(3) 70% of the monies collected under this chapter for the transfer of Lots 836, 837 and 855 in Square 37, or such successor record or assessment and taxation lots as may be created through future subdivision or creation of condominium units, shall be deposited in the West End Library and Fire Station Maintenance Fund.

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Cite this article: FindLaw.com - District of Columbia Code Division VIII. General Laws. § 47-919. Disposition of monies collected. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-viii-general-laws/dc-code-sect-47-919/

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