Title 47, Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]

If any series of bonds is not issued, sold, and delivered to the original purchaser within 3 years of the date of Council approval of a project pursuant to § 47-340.03, the authorization provided in this subchapter with respect to the issuance, sale, and delivery of such series o…

If any particular provision of this subchapter, or the application thereof to any person or circumstance, is held invalid, the remainder of this subchapter and the application of such provision to other persons or circumstances shall not be affected thereby. If any action or inac…

The procedures set forth in this subchapter shall prevail over any other subchapter of the Council or provision of District law that might be deemed to be inconsistent with this subchapter.

The Mayor may assess fees in connection with the provision to any for-profit or not for profit entity of loans, grants, credit support, revenue bonds, notes or other obligations authorized pursuant to federal law or regulations or any act or resolution of the Council of the Distr…

Fees authorized under § 47-340.20 and the earnings thereon, capital, and other funds appropriated by Council, and such additional monies that may be contributed from any lawful source shall be deposited in an account to be known as the District of Columbia Great Streets Developme…

Monies credited to the Account established under § 47-340.21 shall be allocated annually to the Office of the Deputy Mayor for Planning and Economic Development in an aggregate amount that is equal to the total deposits and earnings that have accrued during the immediately preced…

(a) Account monies allocated to the Office of the Deputy Mayor for Planning and Economic Development as provided in § 47-340.22 may be used to pay the costs of operating and administering economic development programs, including the provision of credit support or enhancement, loa…

For the purposes of this subchapter, the term: (1) “Additional Bonds” means additional District of Columbia Income Tax Secured Bonds that may be issued pursuant to § 1-204.90 and this subchapter and in satisfaction of the tests for additional bonds established in the Financing Do…

(a) There is established separate and apart from the General Fund of the District of Columbia as a nonlapsing fund the Income Tax Secured Bond Fund. (b) The Chief Financial Officer may direct every taxpayer that is required to pay either the Business Franchise Tax or the Income T…

(a) Bonds in one or more series may be issued in an aggregate principal amount not to exceed $15,561,503,000 to fund costs of Capital Projects and the New Communities Initiative Projects (including the issuance of both refunding bonds and bond anticipation notes from time to time…

(a) The Chief Financial Officer may take any action reasonably necessary or appropriate in accordance with this subchapter in connection with the preparation, execution, issuance, sale, delivery, security for, and payment of the bonds of each series, including, determinations of:…

(a) The bonds of any series may be sold as Parity Bonds or Subordinated Bonds at negotiated or competitive sale at, above, or below par, to one or more persons or entities, and upon terms that the Chief Financial Officer considers to be in the best interests of the District. (b) …

(a) The bonds shall be special obligations of the District payable solely from the Available Tax Revenues pledged therefor under this subchapter and other receipts, revenues, and funds in the Income Tax Secured Bond Fund and payable to the Income Tax Secured Bond Fund pursuant to…

(a) The Chief Financial Officer may prescribe the final form and content of all Financing Documents and all Closing Documents to which the District is a party that may be necessary or appropriate to issue, sell, and deliver the bonds. (b) The Chief Financial Officer may, through …

No person, including any bond owner, shall have any claims against the District or any of its elected or appointed officials, officers, employees, or agents for monetary damages suffered as a result of the failure of the District to perform any covenant, undertaking, or obligatio…

(a) Except as otherwise provided § 47-340.33, the elected or appointed officials, officers, employees, or agents of the District shall not be liable personally for the payment of the bonds or be subject to any personal liability by reason of the issuance of the bonds, or for any …

Copies of the specimen bonds and of the final Financing Documents and Closing Documents shall be filed in the Office of the Secretary of the District of Columbia.

Within 3 days after the Chief Financial Officer’s receipt of the transcript of proceedings relating to the issuance of the bonds, the Chief Financial Officer shall transmit a copy of the transcript to the Secretary to the Council.

For the purposes of this subchapter, the term: (1) “Bank” means an insured financial institution as defined in section 2 of the Federal Deposit Insurance Act, approved September 21, 1950 (64 Stat. 873; 12 U.S.C. § 1813), which: (A) Accepts demand deposits or deposits that the dep…

(a) The Mayor or the Mayor’s designated officer shall invest, deposit, or obtain financial services for all District funds that the Mayor does not need for immediate disbursement. (b) The Mayor may exercise any power that is necessary to implement and enforce this subchapter. (c)…

(a) Unless otherwise provided by law, the Mayor, or the CFO pursuant to § 47-351.02(c), shall invest and deposit District funds in, and obtain financial services from, eligible financial institutions. (b) The Mayor, or the CFO pursuant to § 47-351.02(c), shall determine what amou…

(a) To become eligible to submit a bid under this subsection: (1) An insured institution shall provide the Mayor, or the CFO pursuant to § 47-351.02(c), with information from which the Mayor, or the CFO pursuant to § 47-351.02(c), can calculate a community development score under…

(a) Except as otherwise provided by §§ 47-351.09, 47-351.10, and 47-351.11, the Mayor, or the CFO pursuant to § 47-351.02(c), shall select eligible financial institutions with which to conduct the banking business of the District based on the highest composite score for a bid. If…

The Mayor, or the CFO pursuant to § 47-351.02(c), shall calculate a financial score for each eligible financial institution. For each bid solicitation, the Mayor, or the CFO pursuant to § 47-351.02(c), shall decide how much weight and how many points to give each of the following…

(a) The Mayor, or the CFO pursuant to § 47-351.02(c), shall calculate the community development score by calculating a ratio of the eligible financial institution’s performance for 1 or more of the criteria in each of the 3 categories under subsection (b) of this section; multipl…

(a) Except for securities directly purchased without a repurchase agreement and money market funds, an eligible financial institution must at all times provide collateral equal to at least 102% of the District funds held by the eligible financial institution for deposits and inve…

(a) The Mayor, or the CFO pursuant to § 47-351.02(c), may make a deposit in an insured financial institution in return for a commitment by that institution to make specific community development loans in a low-to-moderate income area. The Mayor, or the CFO pursuant to § 47-351.02…

(a) Without regard to the competitive bidding requirements of §§ 47-351.04 and 47-351.05, the Mayor, or the CFO pursuant to § 47-351.02(c), may place deposits or investments at an insured financial institution for the purpose of maintaining banking services in a low-to-moderate i…

Without regard to the competitive bidding requirements of §§ 47-351.05 and 47-351.07, the Mayor, or the CFO pursuant to § 47-351.02(c), may reserve up to 10% of District funds available for deposit or investment in order to make an investment or a deposit with one or more insured…

(a) Except as provided in subsection (b) of this section, all information submitted by a financial institution to the Mayor, or the CFO pursuant to § 47-351.02(c), shall be available for public inspection and reproduction during regular business hours. (b) Proprietary financial a…

(a) The Mayor, or the CFO pursuant to § 47-351.02(c), may take the action provided for in subsection (b) of this section to protect District funds if: (1) A financial institution fails to return a deposit upon demand or upon the termination of or pursuant to the terms of an agree…

(a) An eligible financial institution shall cash checks issued by the District government without charge for both account and non-account holders. (b) An insured institution may require a holder of a check meeting the requirements of subsection (a) of this section to show proper …

Any director, officer, manager, agent, or employee of an eligible financial institution who knowingly violates a provision of this subchapter may, upon conviction, be fined not less than $500 nor more than $2,000.

The Mayor, pursuant to title 1 of the District of Columbia Administrative Procedure Act, approved October 21, 1968 (82 Stat. 1204; § 2-501 et seq.), shall issue rules to implement the provisions of this subchapter.

For the purposes of this subchapter, the term: (1) “Agency” means an agency, office, department, board, commission, or independent agency or instrumentality of the District Government. (2) “Apportionment” means the division of an agency’s appropriated budget authority by periods …

A District agency head, deputy agency head, agency fiscal officer, agency budget director, agency controller, manager, or other employee may not: (1) Make or authorize an expenditure or obligation exceeding an amount available in an appropriation for an agency, fund, or capital p…

A manager shall develop year-end spending projections, by source of funds, on a quarterly basis, which show year-to-date spending, approved budget, year-end projected spending, explanations of variances greater than 5%, and in the case of overspending, a corrective action plan. S…

(a) By October 1 of each year, an agency head and agency fiscal officer shall jointly submit to the Chief Financial Officer a monthly spending plan and a Schedule A, each by source of funds, based on the finally enacted annual budget. If an agency’s budget is changed after final …

(a) The Chief Financial Officer shall submit reports to the Council and the Mayor on a quarterly basis indicating each agency's actual operating expenditures, obligations, and commitments, each by source of funds, and the expenditures for each capital project, compared to their a…

An agency head, deputy agency head, agency fiscal officer, agency budget director, agency controller, manager, or other employee may be subject to adverse personnel action, including removal, for violating any provision in § 47-355.02.

(a) The Board of Review for Anti-Deficiency Violations (“Review Board”) is established as an independent agency within the District of Columbia government, consistent with the meaning of the term independent agency, as provided in [§ 1-603.01(13)]. (b) The Review Board shall: (1)…

Within 30 days of the effective date of this subchapter [April 4, 2003], the Mayor shall issue an administrative order advising all District agency heads, deputy agency heads, chief financial officers, agency budget directors, agency controllers, and other managers of the require…

For the purposes of this subchapter, the term: (1) “Agency” means the highest organizational unit of the District of Columbia government at which budgeting data is aggregated, as detailed by the Agency field in the financial system. (2) “Agency funding source” means the designate…

(a) A reprogramming shall be used only when an unforeseen situation develops, and then only if postponement until the next appropriations cycle would result in a serious hardship in the management of the City. (b) A reprogramming of any amount shall not be used to: (1) Establish …

(a) The Mayor shall submit to the Council for approval a reprogramming request that individually or on a cumulative basis would result in a change to the original appropriated authority, along with certification by the Chief Financial Officer of the availability of funds for the …

(a) Funds appropriated pursuant to an appropriations act that remain available for obligation or expenditure, or provided from any accounts in the Treasury of the United States derived by the collection of fees available to the agencies funded in an appropriations act, shall be a…