Limitations on issuance of Bonds.
Bonds shall not be issued pursuant to this subchapter to the extent the issuance will cause the aggregate principal amount of Bonds issued pursuant to this subchapter and the TIF Act to exceed $500 million; provided, that the aggregate amount of TIF bonds for projects in the Central Business District, as defined in Title 11 of the District of Columbia Municipal Regulations, shall not exceed $300 million. Bonds shall not be issued pursuant to this subchapter after September 30, 2015. The maximum principal amount of bonds that may be issued with respect to the Downtown Retail Priority Area is limited to the amount of bonds issued before March 1, 2013.
Annotations
Sept. 8, 2004, D.C. Law 15-185, § 3, 51 DCR 5941 Mar. 2, 2007, D.C. Law 16-192, § 2003, 53 DCR 6899 Sept. 24, 2010, D.C. Law 18-223, § 7112(b), 57 DCR 6242 Dec. 24, 2013, D.C. Law 20-61, § 8032(a), 60 DCR 12472 Section 8031 of D.C. Law 20-61 provided that Subtitle D of Title VIII of the act may be cited as the “Great Streets Neighborhood Retail Priority Area Amendment Act of 2013”. Applicability of D.C. Law 20-61: Section 11001 of D.C. Law 20-61 provided that, except as otherwise provided, the act shall apply as of October 1, 2013. For temporary (90 days) amendment of this section, see § 8032(a) of the Fiscal Year 2014 Budget Support Congressional Review Emergency Act of 2013 (D.C. Act 20-204, October 17, 2013, 60 DCR 15341, 20 DCSTAT 2311). For temporary (90 days) amendment of this section, see § 8032(a) of the Fiscal Year 2014 Budget Support Emergency Act of 2013 (D.C. Act 20-130, July 30, 2013, 60 DCR 11384, 20 DCSTAT 1827). For temporary (90 day) amendment of section, see § 7112(b) of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542). For temporary (90 day) amendment of section, see § 2003 of Fiscal Year 2007 Budget Support Congressional Review Emergency Act of 2007 (D.C. Act 17-1, January 16, 2007, 54 DCR 1165). For temporary (90 day) amendment of section, see § 2003 of Fiscal Year 2007 Budget Support Congressional Review Emergency Act of 2006 (D.C. Act 16-499, October 23, 2006, 53 DCR 8845). For temporary (90 day) amendment of section, see § 2003 of Fiscal Year 2007 Budget Support Emergency Act of 2006 (D.C. Act 16-477, August 8, 2006, 53 DCR 7068). The 2013 amendment by D.C. Law 20-61 added (c). D.C. Law 18-223, in subsec. (b), substituted “September 30, 2015” for “December 31, 2013”. D.C. Law 16-192, in subsec. (a), substituted “$500 million; provided, that the aggregate amount of TIF bonds for projects in the Central Business District, as defined in Title 11 of the District of Columbia Municipal Regulations, shall not exceed $300 million” for “$300 million”. This section is referenced in § 2-1217.73 and § 2-1217.73a.
Sourced from the DC Council Open Law Library (public domain).
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