(a)(1) On or before March 1, the Chief Financial Officer shall compile and publish an annual Unified Economic Development Budget Report (“Report”) with regard to the fiscal year just concluded. The report shall be produced in both printed and electronic form and shall be freely available in offices of all District agencies included in the report. A user-friendly electronic version of the report shall be posted on the Government of the District of Columbia’s website in a central location that the public can easily locate.
(2) The comprehensive report shall provide the following information regarding the economic development incentives offered by the District:
(A) The name of each recipient receiving one or more economic development incentives with a combined total value equal to or greater than $75,000;
(B) The dollar value of each economic development incentive received by each recipient; provided, that any economic development incentive received by a recipient with a value less than $75,000 shall not be itemized; the Chief Financial Officer shall report an aggregate dollar amount of those expenditures and the total number of recipients aggregated;
(C) The aggregate dollar amounts for each type of incentive;
(D) The aggregate dollar amounts expended per ward;
(E) The aggregate number of companies, groups, or individuals receiving each type of economic development incentive; and
(F) The total cost of all economic development incentives appropriated by each granting body categorized by the granting body’s name.
(b) The Mayor shall submit annually, as part of the annual budget request to the Council, a single document estimating the costs of all economic development incentives for the fiscal year of the requested budget, including:
(1) The total cost to the District resulting from the proposed economic development incentives, including the costs for each category of proposed tax expenditures, and the amounts of proposed tax expenditures classified by ward;
(2) The cost to the District of all proposed appropriated funds for economic development incentives by District agency, instrumentality, or public institution of higher education;
(3) For each recipient listed in the most recent Unified Economic Development Budget Report prepared pursuant to subsection (a)(2)(A) of this section that has received an economic development incentive in anticipation of, or as the result of, the development or redevelopment of real property, the Mayor shall list all requirements imposed on the recipient in exchange for those incentives, including any requirements related to:
(A) The production or preservation of affordable housing;
(B) The employment of District residents;
(C) The participation of certified business enterprises in the construction or operation of the real property; and
(D) The production of community amenities; and
(4) For each recipient that received an economic development incentive in anticipation of, or as the result of, the development or redevelopment of real property within the previous 5 years, the Mayor shall determine whether the recipient is in compliance with any requirements listed in paragraph (3) of this subsection for that recipient and shall list, when applicable:
(A) The current number of affordable housing units on the property, their level of affordability, and the number of bedrooms per unit;
(B) The number of District residents employed as a result of the development or redevelopment of the property, including the average wages of newly employed residents, the value and type of employment benefits provided, and whether the employees are full-time or part-time;
(C) The participation of certified business enterprises in the construction or operation of the real property;
(D) Any realized changes to overall tax revenue resulting from the development or redevelopment.
(c) Any granting authority agencies administering any economic development incentive shall cooperate and assist the Chief Financial Officer in the preparation of the Unified Economic Development Budget Report and all reporting requirements imposed by this subchapter.
Effect of Amendments
The 2015 amendment by D.C. Law 21-36 substituted “On or before March 1” for “Not more than 3 months after the end of each fiscal year” in (a)(1); and substituted “Mayor” for “Chief Financial Officer” in (b).
Section 7171 of the Fiscal Year 2020 Budget Support Emergency Amendment Act of 2019 repealed § 3 of D.C. Law 22-295 removing the applicability restriction impacting this section. Therefore the amendment of this section by D.C. Law 22-295 has been given effect.
Applicability of D.C. Law 22-295: § 3 of D.C. Law 22-295 provided that the change made to this section by § 2(b)(3) of D.C. Law 22-295 is subject to the inclusion of the law’s fiscal effect in an approved budget and financial plan. Therefore that amendment has not been implemented.
For temporary (90 days) repeal of applicability provision of D.C. Law 22-295, see § 7171 of Fiscal Year 2020 Budget Support Congressional Review Emergency Act of 2019 (D.C. Act 23-112, Sept. 4, 2019, 66 DCR 11964).
For temporary (90 day) addition, see § 2253 of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542).
For temporary (90 days) amendment of this section, see § 7142 of the Fiscal Year 2016 Budget Support Emergency Act of 2015 (D.C. Act 21-127, July 27, 2015, 62 DCR 10201).