SUBTITLE F. DMPED LIMITED GRANT-MAKING AUTHORITY

(a) Subsection (d) is amended as follows:

(1) Paragraph (2) is amended by striking the phrase "; and" and inserting a semicolon in its place.

(2) Paragraph (3) is amended by striking the period and inserting a semicolon in its place.

(3) New paragraphs (4), (5), and (6) are added to read as follows:

" (4) (A) Funds to equity impact enterprises operating in Ward 5, 7, or 8 to increase economic or community development in an underserved area of the District;

" (B) For the purposes of this paragraph, the term "equity impact enterprise" shall have the same meaning as set forth in section 2302(8A) of the Small and Certified Business Enterprise Development and Assistance Act of 2005, effective October 20, 2005 (D.C. Law 16-33; D.C. Official Code § 2-218.02(8A)) ;

" (5) Funds to provide real property tax rebates pursuant to D.C. Official Code § 47-4665 , in amount not to exceed $3 million in a fiscal year; except, that in Fiscal Year 2021, the amount shall not exceed $580,366;

" (6) Beginning in Fiscal Year 2021 and annually thereafter, the Deputy Mayor shall award a grant of not less than $200,000 to an organization that advances equitable economic development by facilitating and increasing the number of procurement contracts for products and services between District-based businesses and large-scale anchor institutions, such as universities and hospitals.".

(b) A new subsection (i) is added to read as follows:

" (i) (1) Notwithstanding section 1094 of the Grant Administration Act of 2013, effective December 24, 2013 (D.C. Law 20-61; D.C. Official Code § 1-328.13) , in Fiscal Year 2021, the Deputy Mayor shall award a grant to a bank chartered under the laws of the District on or before March 11, 2020, in an amount of at least $1 million for purposes that:

" (A) Support an equitable economic recovery for the District of Columbia; and

" (B) Increase access to loans, grants, financial services, and banking products to District residents, businesses, nonprofits, and community-based organizations.

" (2) A grantee who receives a grant pursuant to paragraph (1) of this subsection shall submit to the Deputy Mayor by September 30, 2021, information on the use of the grant funds, including:

" (A) A description of services provided through the grant funds;

" (B) The aggregate number of individuals, businesses, nonprofits, and community-based organization, by recipient type, receiving support from the grantee and the aggregate amount received, by recipient type;

" (C) Except as may be prohibited by federal law, the business name and address for each business receiving support from the grantee and the amount received by each such business; and

" (D) The number of homeowners receiving support from the grantee and the total amount spent to assist District homeowners.

" (3) The Deputy Mayor shall provide to the Council a report based on the information required by paragraph (2) of this subsection, along with a summary analysis of the efficacy and benefits of the grants issued by the grantee, by November 1, 2021.".

Sec. 2053. Section 47-4665 of the District of Columbia Official Code is amended as follows:

(a) The lead-in language of subsection (b) is amended by striking the phrase "shall receive," and inserting the phrase "may receive" in its place.

(b) The lead-in language of subsection (c)(1) is amended by striking the phrase "shall be equal" and inserting the phrase "shall be equal, subject to the availability of funds," in its place.

(c) Subsection (f) is amended as follows:

(1) The existing text is designated as paragraph (1).

(2) A new paragraph (2) is added to read as follows:

" (2) Notwithstanding paragraph (1) of this subsection, the total combined rebate payments for Fiscal Year 2021 for all occupants under this section shall not exceed $580,366.".