Ballpark Preservation and Improvement Fund

*NOTE: This section includes amendments by emergency legislation that will expire on January 6, 2027. To view the text of this section after the expiration of all emergency and temporary legislation, click this link: Permanent Version.* (a)(1) There is established as a special fund the Ballpark Preservation and Improvement Fund ("Fund"), which shall be administered by the Office Chief Financial Officer ("OCFO") in accordance with this section. (2) The OCFO shall create a sub-account within the Fund for each revenue type to be deposited into the Fund pursuant to subsection (b) of this section and shall allocate the deposits to the appropriate sub-account. (3) The OCFO shall advance funds to the Washington Convention and Sports Authority ("Authority") after the Authority has submitted documentation of planned encumbrances and expenditures consistent with the purposes provided in subsection (c)(1) of this section. (4) The OCFO shall advance funds to the Washington Nationals Youth Baseball Academy after it has submitted documentation of planned encumbrances and expenditures consistent with the purposes provided in subsection (c)(2) of this section and such encumbrances and expenditures have been approved by the Office of Deputy Mayor for Planning and Economic Development ("DMPED"). (b) Beginning when the requirements of § 10-1601.02(e) have been met, revenue from the following sources shall be deposited in the Fund: (1) All receipts from the ballpark sales taxes collected pursuant to § 47-2002.05 except that if said ballpark sales taxes collected in any fiscal year exceed 110% of the ballpark sales taxes collected in the previous fiscal year, the amount in excess of 110% shall not be deposited in the Fund but shall be deposited in the General Fund of the District of Columbia; (2) Any rent paid pursuant to a lease of the ballpark; (3) Amounts collected pursuant to § 47-2501(a-2); and (4) Any balance remaining in the Ballpark Revenue Fund, established by § 10-1601.02. (c)(1) Money in the Fund shall be used for the District's obligations under the ballpark lease for the maintenance, repairs, and capital improvements of the ballpark; (2) Money in the Fund may be used for capital improvement of the Nationals Academy if requested by the Washington Nationals Youth Baseball Academy and approved by DMPED. (3) Money in the Fund may be used for debt service to support borrowing for capital improvements to the ballpark. (c-1) Notwithstanding subsections (a), (b), and (c) of this section, in Fiscal Year 2027, pursuant to § 47-2762(d), the revenues received by the District from the sports facilities fee imposed by § 47-2762 shall be deposited in the Fund and shall be used as follows: (1) All amounts up to $49,505,000 shall be used to pay the debt service on any ballpark early redemption borrowing and, as described in § 10-1605.31(c)(1) and (2), to pay debt service on the bonds for the RFK infrastructure financing and to fund any reserves required under the indenture for the RFK infrastructure financing. (2) The remainder shall be transferred to the General Fund of the District of Columbia. (d)(1) The money deposited into the Fund but not expended in a fiscal year shall not revert to the unassigned 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) By March 1 of each year, the Authority shall submit a report to the Mayor and to the Council that details expenditures from the Fund for the prior fiscal year and planned spending from the Fund in the current and next four years. (f) For the purposes of this section, the term "Ballpark Revenue Bonds" shall have the same meaning as the term "bonds" in § 10-1601.03(a)(2).