KIPP DC — Shaw Campus; Lot 163, Square 510.

(a) The real property located at 421 P Street, N.W., and described as Lot 163, Square 510 shall be exempt from real property taxation, including possessory interests, so long as the real property continues to be owned, or occupied under a ground lease, by KIPP DC, KIPP DC — Shaw QALICB, Inc., or any other subsidiary of KIPP DC.

(b) Any transfer, assignment, or other disposition of all or any portion of the real property described in subsection (a) of this section, including an assignment of leasehold interest in the real property or a sublease of the real property, between KIPP DC and KIPP DC — Shaw QALICB, Inc., or any other subsidiary of KIPP DC, shall be exempt from the tax imposed by § 42-1103 and § 47-903 .