(a) There is established as a special fund the St. Elizabeths East Campus Redevelopment Fund ("Fund"), which shall be administered by the Office of the Deputy Mayor for Planning and Economic Development in accordance with subsection (c) of this section.
(b)(1) Beginning with the tax year commencing October 1, 2018, through the tax year ending September 30, 2021, the Chief Financial Officer shall deposit into the Fund taxes, including penalties and interest, if any, collected pursuant to §§ § 47-1005.01 and § 47-2002 attributable to taxable payments or transactions generated from the St. Elizabeths East Campus Entertainment and Sports Arena Site in an amount not to exceed $855,000 per fiscal year. Any taxes imposed with respect to possessory interest in the St. Elizabeths East Campus Entertainment and Sports Arena Site pursuant to § 47-1005.01 in excess of $855,000 per fiscal year shall be abated.
(2) Beginning with the tax year commencing on October 1, 2021, the Chief Financial Officer shall deposit into the Fund all taxes, including penalties and interest, if any, collected pursuant to §§ § 47-1005.01 and § 47-2002 attributable to taxable payments or transactions generated from the St. Elizabeths East Campus Entertainment and Sports Arena Site for the period ending on the last day of the tax year that the Ground Lease is in effect, in accordance with the requirements of the Ground Lease.
(c)(1) The Fund shall be used solely to support the maintenance, operation, and construction activities on the St. Elizabeths East Campus Redevelopment Site.
(2) Notwithstanding § 1-328.13, the Office of the Deputy Mayor for Planning and Economic Development may use funds from the Fund to award grants to recipients to further the purposes set forth in this subsection.
(d)(1) The money deposited into the Fund shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.
(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.
(e) For the purposes of this section, the term:
(1) "Ground Lease" means the lease entered into by and between the District of Columbia and the tenant for the St. Elizabeths East Campus Entertainment and Sports Arena Site.
(2) "St. Elizabeths East Campus Entertainment and Sports Arena Site" means that portion of the St. Elizabeths East Campus, located at 1100 Alabama Avenue, S.E., Washington, D.C., known for tax and assessment purposes as Lot 838, in Square 5868, Suffix S.
(3) "St. Elizabeths East Campus Redevelopment Site" means the real property known as Square 5868, Suffix S.
(Dec. 13, 2017, D.C. Law 22-33, § 2042, 64 DCR 7652; July 12, 2022, D.C. Law 24-147, § 106(a), 69 DCR 003386.)
For temporary (90 days) creation of § 325.361, New Hospital at St. Elizabeths Startup Reserve Fund, see § 202 of New Hospital at St. Elizabeths Emergency Amendment Act of 2020 (D.C. Act 23-360, Aug. 5, 2020, 67 DCR 9668).
For temporary (90-day) creation of this section, see § 2042 of the Fiscal Year 2018 BudgetSupport Congressional Review Emergency Act of 2017, effective October 24, 2017 (D.C. Act 22-167; 64 DCR 10802).
For temporary (90-day) creation of this section, see § 2042 of the Fiscal Year 2018 Budget Support Emergency Act of 2017, effective July 20, 2017 (D.C. Act 22-104; 64 DCR 7032).