The purpose of the public hearing is to discuss and provide the public with an opportunity to comment on the proposed legislation that amends Chapter 18, Subchapter XVII of Title 47 of the District of Columbia Official Code to provide an abatement of real property taxes on certain real property used by qualified high technology social electronic-commerce companies as a primary corporate headquarters by granting meployment wage tax credits for achieving certain percentages of newly-hired employees as District residents during a specified period.