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B 26-0681

Reservoir District Tax Exemption Emergency Amendment Act of 2026

26th Council Period (2025-2026) Introduced by Zachary Parker

The bill creates a temporary emergency tax exemption in the Reservoir District to spur investment and development during the emergency period.

Act A26-0319 Published in DC Register Vol 73 and Page 008155, Expires on Aug 26, 2026
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Bill Summary · B 26-0681

Bill Summary: Reservoir District Tax Exemption Emergency Amendment Act of 2026 (B26-0681)

Overview

  • Jurisdiction: District of Columbia
  • Bill Number: B26-0681
  • Session: 26
  • Title: Reservoir District Tax Exemption Emergency Amendment Act of 2026
  • Introduced by: Councilmember Zachary Parker
  • Current Status: Retained by the Council (as of 2026-05-05)
  • First Introduced: 2026-05-04

This bill proposes to modify the tax treatment within the Reservoir District through an emergency amendment that expands or extends a tax exemption. The act is described as an emergency measure, indicating it would take effect more rapidly than ordinary legislation, subject to statutory procedures for emergency enactments in the District.

Purpose and Intent

  • Primary Objective: Provide a temporary (emergency) tax exemption within the Reservoir District. The aim is to relieve certain taxpayers or activities connected to the Reservoir District from the payment of specific District tax obligations for a defined period.
  • Policy Goal: Encourage investment, development, or operational stability within the Reservoir District by reducing the tax burden during the emergency period.

Key Provisions (as they are expected to appear in an emergency tax regime)

Note: The precise statutory language is not provided here; the following outlines represent typical components of an emergency tax exemption amendment. The bill’s text would specify exact eligibility, applicability, and duration.

  • Subject Area: Tax exemption within the Reservoir District
  • Type of Tax Covered: Likely property taxes, sales taxes, or district-specific taxes relevant to the Reservoir District, possibly encompassing real property or improvements thereon. The bill may also address special assessments or fees related to the district.
  • Eligibility Criteria:
    • Applies to qualifying property owners, developers, or concessionaires within the Reservoir District.
    • Could target new investments, rehabilitations, or operational upturns tied to the District’s development goals.
    • Might include caps or limitations to ensure fiscal impact remains within emergency parameters.
  • Duration: Temporary, with an explicit end date or a mechanism to sunset after the emergency period.
  • Automatic vs. Discretionary Applicability: The text could specify whether exemptions automatically apply to eligible properties or require a District authority or agency approval.
  • Compliance and Reporting: Provisions may require recipients to comply with reporting, reporting thresholds, or conditions tied to the exemption (e.g., maintaining certain jobs or project milestones).

Who/What Is Affected

  • Taxpayers in the Reservoir District: Property owners, developers, investors, and businesses operating within the district who would qualify for the exemption.
  • District Fiscal Impact: The District government would forego certain tax revenue for the duration of the emergency exemption, affecting annual budget forecasts and potentially requiring temporary budget adjustments or offsets.
  • Related Stakeholders: Builders, lenders, tenants, and local service providers who operate or invest within the Reservoir District may experience indirect effects on development timelines, costs, and economic activity.

Procedural and Timeline Considerations

  • Emergency Nature: As an emergency amendment, the bill seeks expedited consideration and a quicker effective date relative to standard legislative processes.
  • Action History:
    • Introduced on 2026-05-04 by Councilmember Parker.
    • Retained by the Council on 2026-05-05 (indicating the bill remains under review and has not yet moved to final passage or signature).
  • Next Steps (typical for an emergency measure):
    • Committee review and potential hearings to assess fiscal impact, implementation mechanics, and sunset terms.
    • Council deliberation with potential amendments.
    • If approved, rapid deployment of necessary implementing regulations or executive actions to ensure timely effect.

Potential Impacts and Considerations

  • Fiscal: Short-term loss of tax revenue in the Reservoir District; requires transparent justification and clear sunset provisions to prevent indefinite exemptions.
  • Economic Development: May stimulate investment, job creation, or redevelopment within the district during the emergency period.
  • Equity and Burden Shifting: Consideration of how exemptions affect non-qualifying property owners and whether exemptions are targeted to achieve stated development goals.

Notes for Readers

  • The summary reflects the bill’s stated intent to create an emergency tax exemption in the Reservoir District. For precise eligibility, dollar amounts, tax types, exemption levels, duration, and administration, review the official bill text and any accompanying fiscal impact statements or agency analyses once released.

Compiled from official sources — confirm details with the bill’s official record.

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