SUBTITLE L. NEW COMMUNITIES CLARIFICATION

Sec. 7141. Short title.

This subtitle may be cited as the "New Communities Bond Clarification Amendment Act of 2020".

Sec. 7142. Section 203(b) of the Housing Production Trust Fund Act of 1988, effective October 20, 2005 (D.C. Law 16-33; D.C. Official Code § 42-2812.03(b)), is amended to read as follows:

" (b) (1) The bonds, which may be issued from time to time, in one or more series, shall be tax-exempt or taxable as the Mayor shall determine.

" (2) The total amount of funds allocated annually from the Housing Production Trust Fund to pay debt service on the bonds shall not exceed $16 million.".