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B 26-0682

Reservoir District Tax Exemption Temporary Amendment Act of 2026

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

The bill temporarily expands or adjusts Reservoir District tax exemptions for a defined period to influence property taxation and development incentives.

Act A26-0353 Published in DC Register Vol 73 and Page 009220
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Bill Summary · B 26-0682

Bill Summary: Reservoir District Tax Exemption Temporary Amendment Act of 2026 (B26-0682)

Overview

  • Jurisdiction: District of Columbia
  • Session: 26
  • Title: Reservoir District Tax Exemption Temporary Amendment Act of 2026
  • Introduced by: Councilmember Parker
  • Co-sponsor: Zachary Parker
  • Status: Retained by the Council (as of May 5, 2026)

This bill pertains to tax exemptions within the Reservoir District, implementing a temporary amendment to the existing tax exemption framework. The core purpose is to modify the availability or scope of tax exemptions for a defined period, with implications for property owners and residents within the Reservoir District.

Purpose and Intent

  • To temporarily modify or expand/adjust the District’s tax exemption provisions applicable in the Reservoir District.
  • The change is designed to provide targeted relief or incentives related to property taxation, potentially in response to economic, housing, or development considerations within the area.
  • The temporary nature suggests a sunset or expiration date unless extended by subsequent legislative action.

Key Provisions (Highlights)

Note: The following provisions are typical for a “Temporary Amendment” to a tax exemption, but exact statutory text is not provided in the summary. The bill likely includes several or all of the following elements:

  • Effective Period: Establishes a clear start and end date for the temporary amendment, specifying how long the exemption changes are in effect.
  • Eligibility Criteria: Defines which properties, owners, or parcels within the Reservoir District qualify for the temporary exemption adjustments.
  • Exemption Scope: Specifies the type of tax exemption affected (e.g., real property tax, improvements-related exemptions) and the revised rates, thresholds, or conditions.
  • Administration and Compliance: Outlines the responsible District agencies for administration, filing requirements, documentation, and verification processes for eligibility.
  • Impact on Revenues: Provides an estimate or framework for anticipated revenue impact to the District and any mechanisms to address shortfalls or fiscal projections during the amendment period.
  • Sunset and Renewal: Details the process for expiration and whether there is an option to renew or extend the exemption, possibly requiring new legislative action.

Affected Parties and Implications

  • Property Owners in the Reservoir District: Potential changes in tax burden due to altered exemption eligibility or scope.
  • Developers and Real Estate Stakeholders: May experience shifts in investment calculations, project feasibility, or timing due to temporary tax changes.
  • District Treasury/Budget Office: Must account for modified tax revenue during the amendment period and monitor fiscal impact.
  • Residents and Community: Indirect effects through housing affordability, development activity, and neighborhood investment.

Procedural and Timeline Aspects

  • Introduction: Bill introduced by Councilmember Parker (May 2026).
  • Sponsorship: Co-sponsored by Zachary Parker.
  • Committee/Consideration Path: Listed as “Retained by the Council” as of May 5, 2026, indicating it continues to be under Council consideration without floor passage or committee report yet finalized in the provided docket.
  • Potential Next Steps: Committee hearings, amendments, and a Council vote to adopt the temporary amendment, followed by any required Mayor approval and publication in the District Code.

Notes

  • Specific statutory language, numeric details (such as exact exemption amounts, eligible parcel criteria, or sunset date), and fiscal impact analyses are not provided in the available information. For a precise understanding, review the bill’s text and any accompanying fiscal notes or committee reports once released.

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

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