District Of Columbia 2025-2026 Regular Session

District Of Columbia Council Bill B26-0205 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	MURIEL BOWSER
2	2	MAYOR
3	3	March 25, 2025
4	4	The Honorable Phil Mendelson
5	5	Chairman
6	6	Council of the District of Columbia
7	7	John A. Wilson Building
8	8	1350 Pennsylvania Avenue, NW, Suite 504
9	9	Washington, DC 20001
10	10	Dear Chairman Mendelson:
11	11	Enclosed for consideration and adoption by the Council of the District of Columbia is proposed
12	12	legislation entitled the “Industrial Revenue Bond Forward Commitment Program Amendment
13	13	Act of 2025”.
14	14	The proposed legislation will amend Subchapter II-B of Chapter 3 of Title 47 of the District of
15	15	Columbia Official Code,
16	16	relating to the issuance of District of Columbia revenue bonds pursuant
17	17	to section 490 of the District of Columbia Home Rule Act. Specifically, the proposed legislation
18	18	will remove the aggregate principal limit set in the Industrial Revenue Bond Forward
19	19	Commitment Program Act of 1995, streamline the revenue bond approval process, and update
20	20	certain language in the existing revenue bond law.
21	21	These proposed changes will increase the capacity of the District’s revenue bond program and
22	22	improve the speed with which the District can process revenue bond applications. The quicker
23	23	turnaround provided by these amendments will allow a larger number of organizations around
24	24	the District to meet funding and timing deadlines in a fast-paced real estate market.
25	25	I urge the Council to take prompt and favorable action on the enclosed legislation.
26	26	Sincerely,
27	27	Muriel E. Bowser
28	28	Enclosure 1
29	29	2 hairman Phil Mendelson
30	30	3 at the request
31	31	of the Mayor
32	32	4
33	33	5
34	34	6 AB~L
35	35	7
36	36	8
37	37	9
38	38	10 IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
39	39	11
40	40	12
41	41	13
42	42	14 To amend Subchapter II-B of Chapter 3 of Title 47 of the District of Columbia Official Code
43	43	15 relating to the Industrial Revenue Bond Forward Commitment Program for the issuance of
44	44	16 District of Columbia revenue bonds pursuant to section 490 of the District of Columbia
45	45	1 7 Home Rule Act.
46	46	18
47	47	19 BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this
48	48	20 act may be cited
49	49	as the "Industrial Revenue Bond Forward Commitment Program Amendment
50	50	21 Act of 2025".
51	51	22 Sec.
52	52	2. Title 47 of the District of Columbia Official Code is amended as follows:
53	53	23 (a) Section 47-340.01 is amended as follows:
54	54	24 (1) Paragraph (1)
55	55	is amended by striking the phrase "limited partnership," and
56	56	25 inserting the phrase "limited partnership, limited liability company," in its place.
57	57	26 (2) Paragraph (2)
58	58	is amended by striking the phrase "Assistant City Administrator
59	59	27 for Economic Development, Deputy Mayor for Financial Management" and inserting the phrase
60	60	28 "Deputy Mayor for Planning and Economic Development" in its place.
61	61	29 (3) Paragraph (10)
62	62	is amended by striking the phrase "and industrial and
63	63	30 commercial development authorized pursuant
64	64	to this subchapter" and inserting the phrase
65	65	1
66	66
67	67	2
68	68	“industrial and commercial development, and any other area authorized under section 490 of the 31
69	69	Home Rule Act and pursuant to this subchapter ” in its place 32
70	70	(b) Section 47- 340.02 is amended by striking the phrase “ multiple separate series in an 33
71	71	aggregate principal amount not to exceed $850,000,000” and inserting the phrase “multiple 34
72	72	separate series” in its place. 35
73	73	(c) Section 47- 340.03 is amended as follows: 36
74	74	(1) Subsection (a) is amended by striking the number “30” and inserting the 37
75	75	number “10” in its place. 38
76	76	(2) Subsection (b) is amended by: 39
77	77	(A) Striking the phrase “30 days” and inserting the phrase “10 days” in its 40
78	78	place; and 41
79	79	(B) Striking the phrase “30- day” and inserting the phrase “10-day” in its 42
80	80	place. 43
81	81	(d) Section 47- 340.07(a) is repealed. 44
82	82	Sec. 3. Fiscal impact statement. 45
83	83	The Council adopts the fiscal impact statement in the committee report as the fiscal 46
84	84	impact statement required by section 4a of the General Legislative Procedures Act of 1975, 47
85	85	approved October 16, 2006 (120 Stat. 2038; D.C. Official Code § 1- 301.47a). 48
86	86	Sec. 4. Effective date. 49
87	87	This act shall take effect following approval by the Mayor (or in the event of veto by the 50
88	88	Mayor, action by the Council to override the veto), a 30- day period of Congressional review as 51
89	89	provided in section 602(c)(1) of the District of Columbia Home Rule Act, approved December 52
90	90
91	91	3
92	92	24, 1973 (87 Stat. 813; D.C. Official Code § 1- 206.02(c)(1)), and publication in the District of 53
93	93	Columbia Register. 54 GOVERNMENT OF THE DISTRICT OF COLUMBIA
94	94	O
95	95	FFICE OF THE ATTORNEY GENERAL
96	96	BRIAN SCHWALB
97	97	A
98	98	TTORNEY GENERAL
99	99	LEGAL COUNSEL DIVISION
100	100	MEMORANDUM
101	101	TO: Tomás Talamante
102	102	Director
103	103	Office of Policy and Legislative Affairs
104	104	FROM: Megan D. Browder
105	105	Deputy Attorney General
106	106	Legal Counsel Division
107	107	DATE: June 12, 2024
108	108	SUBJECT: Legal Sufficiency Review of the “Industrial Revenue Bond Forward Commitment
109	109	Program Amendment Act of 2024”
110	110
111	111	(AE-24-361)
112	112	___________________________________________________________________________________
113	113	This is to Certify that this Office has reviewed the Industrial Revenue Bond Forward
114	114	Commitment Program Amendment Act of 2024” and found it to be legally sufficient. If you have any
115	115	questions in this regard, please do not hesitate to call me at (202) 724-5524.
116	116	_________________________________
117	117	Megan D. Browder