Kevin P. Chavous
DISTRICT OF COLUMBIA
introduced the following bill, which was referred to the Committee on
Economic Development with comments from the Committee on Finance and
Revenue.
Columbia residents incentive to rehabilitate abandoned property by
allowing the purchase of abandoned property at a nominal cost, forgiving a
percentage of any tax liens on the abandoned property, and abating
penalties and interest which have accrued on the property.
OF THE DISTRICT OF COLUMBIA, That this act may be cited as the
"Abandoned Property Rehabilitation Incentive Act of 2001
Mayor, the District of Columbia Department of Housing and Community
Development, or the Department of Finance and Revenue, may be purchased at
nominal cost by District of Columbia residents, and shall be exempt from
penalties and interest on the abandoned property that have accrued prior
to the date of purchase.
to abandoned single-family dwellings and duplex housing.
participation.
abandoned property identified in section 2 shall pay SO% of the existing
tax lien on the property.
(b) Purchasers may request an
installment payment plan to pay the taxes due pursuant to this act.
(c) All taxes, fees, and assessments that accrue,
from the date of settlement forward, shall be paid by the new owner.
(d) Property acquired pursuant to this act must
be fully rehabilitated and occupied by the purchaser within 6 months of
the date of purchase.
(e) The new owner shall reside in the property
for not less than 1 year after the date of purchase.
(f) During the 6 month rehabilitation period the
owner shall allow periodic inspection of the property by the District of
Columbia government or its agent.
(g) Fire and extended insurance coverage for the
property shall be maintained by the new owner.
Sec. 4. Fiscal impact. The Council adopts the fiscal
impact statement in the committee report as the fiscal impact statement
required by section 602(c)(3) of District of Columbia Home Rule Act,
approved December 24, 1973 (87 Stat. 813; D.C. Code § 1-233 (c)(3)).
Sec. 5. This act shall take effect following
approval by the Mayor (or in the event of a veto by the Mayor, action by
the Council to override the veto), approval by the Financial
Responsibility and Management Assistance Authority as provided in section
203(a) of the District of Columbia Financial Responsibility and Management
Assistance Act of 1995, approved April 17, 1995 (109 Stat. 116; D.C. Code
§47-392.3(a)), a 30-day period of Congressional review as provided in
section 602(c)(1) of the District of Columbia Home Rule Act, approved
December 24, 1973 (87 Stat. 813; D.C. Code § 1-233(c)(1)), and
publication in the District of Columbia Register.