(a) There is established as a special fund the Soccer Stadium Financing Fund ("Fund"), which shall be administered by the Deputy Mayor for Planning and Economic Development in accordance with subsections (c) and (d) of this section.
(b) Revenue from the following sources shall be deposited in the Fund:
(1) The payment made by the District of Columbia Water and Sewer Authority to the District government pursuant to section 3.02 of the memorandum of agreement entered into between the District of Columbia and the District of Columbia Water and Sewer Authority, dated December 15, 2014;
(2) Any payment made by D.C. United to the District government pursuant to section 5.9 of the development agreement;
(2A) Any payment made by D.C. United to the District government pursuant to the revised ground lease;
(3) The proceeds of the sale of the District-owned property located at 1st and K Streets, N.W., which property is designated for tax and assessment purposes as Lot 82 in Square 559; and
(4) The funds reprogrammed pursuant to section 3 of the Fiscal Year 2015 Revised Budget Request Emergency Adjustment Act of 2014 [D.C. Act 20-545, effective Dec. 23, 2014].
(c) Money in the Fund shall be used for the following purposes:
(1) To pay for the operating expenditures or other costs incurred in the implementation of this subchapter; and
(2) To offset the revenue reduction impacts of this subchapter.
(d) Money in the Fund may not be used for any purpose not identified in subsection (c) of this section.
(e) (1) The money deposited into the Fund, and interest earned, 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.
Effect of Amendments
The 2015 amendment by D.C. Law 21-36 would have substituted “December 15, 2014” for “September 4, 2014” in (b)(1); and would have added (b)(2A).
Applicability of D.C. Law 20-233: Section 301 of D.C. Law 20-233 provided (1) that the act shall apply upon the date of inclusions of its fiscal effect in an approved budget and financial plan; (2) that the Chief Financial Officer shall certify the date of the inclusion of the fiscal effect in an approved budget and financial plan, and provide notice to the Budget Director of the Council of the certification; and (3) that the Budget Director shall cause the notice of the certification to be published in the District of Columbia Register and that the date of publication of the notice of the certification shall not affect the applicability of the act.
For temporary (90 days) addition of this section, see § 101 of the Soccer Stadium Development Emergency Amendment Act of 2014 (D.C. Act 20-557, Dec. 30, 2014, 62 DCR 448, 20 STAT 4467).
For temporary (90 days) amendment of this section, see § 2(e) of the Soccer Stadium Development Technical Clarification Emergency Amendment Act of 2015 (D.C. Act 21-59, May 8, 2015, 62 DCR 5962, 21 DCSTAT 1434).
For temporary (90 days) amendment of this section, see § 2182(e) of the Fiscal Year 2016 Budget Support Emergency Act of 2015 (D.C. Act 21-127, July 27, 2015, 62 DCR 10201).
For temporary (225 days) amendment of this section, see § 2(e) of the Soccer Stadium Development Technical Clarification Temporary Amendment Act of 2015 (D.C. Law 21-17, July 22, 2015, 62 DCR 6876).