Advertisements and sponsorships.

Notwithstanding any other provision of law, the Mayor, through the Office of the State Superintendent of Education (“OSSE”), may enter into written agreements for advertisements and sponsorships for the State Athletic Office’s (“SAO”) athletic activities and programs, including those organized or directed by the SAO of OSSE or the District of Columbia State Athletic Association (“DCSAA”) to supplement local funding of the DCSAA. The State Superintendent of Education may delegate, by written order, the authority to contract for advertisements or sponsorships to officials within OSSE, including to the State Athletic Officer. An agreement pursuant to this section shall not require the District to expend funds. Only advertisements shall be agreed to in exchange for corporate goods, services, or currency. There shall be no limit to the value of goods, services, or currency that may be received from a foreign organization registered or not outside of the District of Columbia or from an individual domiciled outside of the District of Columbia. There shall be a $1,000 limit on the value of goods, services, and currency that may be received during one school year from a domestic organization registered or not within the District of Columbia or from an individual domiciled in the District of Columbia. Sponsorships and advertisements shall be memorialized by written agreement of the parties. The Chief Financial Officer shall deposit all cash proceeds received from advertisements and sponsorships pursuant to this section to the credit of OSSE in the State Athletics Activities, Programs, and Office Fund established in § 38-2672 in the same manner as that used for donations under § 1-329.01.