Bill > B26-0421

This bill, the Soul of the City Business Improvement District Amendment Act of 2025, authorizes the creation of a new Business Improvement District (BID) called the "Soul of the City BID" within the District of Columbia, amending the existing Business Improvement Districts Act of 1996. The BID's boundaries are specifically defined by a comprehensive list of property lots within several squares, and its establishment is subject to mayoral review and approval. Once established, the BID will impose specific taxes on nonexempt real properties within its designated area, starting from April 1, 2026. These taxes include an annual rate of $0.18 per $100 of assessed value for Class 2 properties (excluding hotels), $120 per hotel or motel room annually, and $120 per unit annually for certain multi-unit rental residential properties that were put into service after a specific date, with exemptions for income-restricted affordable housing units. The bill also outlines provisions for taxing properties under ground leases and grants exemptions for properties where owners have invested significantly in safety and public space enhancements. Furthermore, it permits a 3% annual increase in these BID taxes.

Business and Industry

https://lims.dccouncil.gov/Legislation/B26-0421