SUBTITLE O. SKYLAND TAX EXEMPTION
Sec. 7171. This subtitle may be cited as the "Skyland Tax Exemption Amendment Act of 2020".
Sec. 7172. Section 302 of the District of Columbia Deed Recordation Tax Act, approved March 2, 1962 (76 Stat. 11; D.C. Official Code § 42-1102), is amended as follows:
(a)Paragraph#
(a) Paragraph (34) is amended by striking the phrase "; and" and inserting a semicolon in its place.
(b)Paragraph#
(b) Paragraph (35) is amended by striking the period at the end and inserting the phrase "; and" in its place.
(c)A new paragraph#
(c) A new paragraph (36) is added to read as follows:
" (36) (A) Deeds conveying, vesting, granting, or assigning title to, an interest in, a security interest in, or an economic interest in the real property (and any improvements thereon) described as Square 5633, Lots 802, 803, 804, 805, 806, 807, 808, 809, 810, 811, 812, 813, 814, 815, 816, 817, 818, 822, 823, 824, 825, 826, 827, 828, 829, 830, 831, 7000, 7009, and 7010 that are recorded between October 1, 2020, and December 31, 2020.
" (B) The amount of all taxes, fees, and deposits exempted under this paragraph and D.C. Official Code § 47-902(28) , shall not exceed, in the aggregate, $420,840.".
Sec. 7173. Section 47-902 of the District of Columbia Official Code is amended by adding a new paragraph (28) to read as follows:
" (28) (A) Transfers with respect to the real property (and any improvements thereon) described as Square 5633, Lots 802, 803, 804, 805, 806, 807, 808, 809, 810, 811, 812, 813, 814, 815, 816, 817, 818, 822, 823, 824, 825, 826, 827, 828, 829, 830, 831, 7000, 7009, and 7010, as evidenced by the recordation of a deed conveying title to the real property between October 1, 2020, and December 31, 2020.
" (B) The amount of all taxes, fees, and deposits exempted under this paragraph and § 42-1102(36) , shall not exceed, in the aggregate, $420,840.".