SUBTITLE M. QHTC TAX INCENTIVES MODIFICATION
Sec. 7151. Short Title.
This subtitle may be cited as the "QHTC Tax Incentives Modification Amendment Act of 2020".
Sec. 7152. Title 47 of the District of Columbia Official Code is amended as follows:
(a)Section 47-1508(a)(10) is repealed.#
(a) Section 47-1508(a)(10) is repealed.
(b)Chapter 18 is amended as follows:#
(b) Chapter 18 is amended as follows:
(1) Section 47-1803.03(a)(18) is amended as follows:
(A) Subparagraph (A) is amended by striking the phrase "the lesser of $25,000 (or $40,000 in the case of a Qualified High Technology Company ("QHTC"))" and inserting the phrase "the lesser of $25,000" in its place.
(B) Subparagraph (B) is repealed.
(2) Section 47-1817.01(5)(A)(ii) is amended by striking the number "2" and inserting the number "10" in its place.
(3) Section 47-1817.02 is repealed.
(4) Section 47-1817.03 is amended as follows:
(A) Subsection (a) is amended by striking the phrase "imposed by § 47-1817.06" and inserting the phrase "imposed by § 47-1807.02" in its place.
(B) Subsection (a-1) is amended by striking the phrase "imposed by § 47-1817.06" and inserting the phrase "imposed by § 47-1807.02" in its place.
(5) Section 47-1817.04 is amended as follows:
(A) Subsection (d) is amended by striking the figure "$20,000" and inserting the figure "$10,000" in its place.
(B) Subsection (e) is repealed.
(6) Section 47-1817.05(c) is repealed.
(7) Section 47-1817.06 is repealed.
(8) Section 47-1817.07 is repealed.
(9) Section 47-1817.07a is amended by striking the phrase "For tax years beginning after December 31, 2018, notwithstanding" and inserting the phrase "For the tax year beginning after December 31, 2018 and ending before January 1, 2020, and for tax years beginning after December 31, 2024, notwithstanding" in its place.
(10) Section 47-1818.06(3) is repealed.
Sec. 7153. Applicability.
This subtitle shall apply as of January 1, 2020, except that section 7152(a) shall apply as of July 1, 2021.