RSSKing Towers Residential Housing; Out-of-State Municipal Bond Tax
B19-530, the “King Towers Residential Housing Real Property Tax Exemption Technical Corrections Act of 2011”
B19-687, the “Out-of-State Municipal Bond Tax Repeal Act of 2012”
Councilmember Jack Evans, Chairman of the Committee on Finance and Revenue, announces a public hearing to be held on Wednesday, February 29, 2012 at 10:30 a.m., in Room 120 of the John A. Wilson Building, 1350 Pennsylvania Avenue, N.W., Washington, D.C. 20004.
B19-530, the “King Towers Residential Housing Real Property Tax Exemption Technical Corrections Act of 2011”would amend Chapter 46 of Title 47 to correctly identify the type of relief provided to the King Towers residential housing rental project under section 47-4639 and to clarify that such relief is in addition to, and not in lieu of, any other tax relief to which the property or its owner may be entitled.
B19-687, the “Out-of-State Municipal Bond Tax Repeal Act of 2012” would amend Title 47 of the District of Columbia Code to repeal the income tax assessed on out-of-state municipal bonds held by individuals, estates and trusts, whether owned directly or beneficially through a mutual fund or otherwise.
The Committee invites the public to testify at the hearing. Those who wish to testify should register online or contact Sarina Loy, Committee Assistant at (202) 724-8058 or sloy@dccouncil.us, and provide your name, organizational affiliation (if any), and title with the organization by 10:30 a.m. on Tuesday, February 28, 2012. Witnesses should bring 15 copies of their written testimony to the hearing. The Committee allows individuals 3 minutes to provide oral testimony in order to permit each witness an opportunity to be heard. Additional written statements are encouraged and will be made part of the official record. Written statements may be submitted by e-mail to sloy@dccouncil.us or mailed to: Council of the District of Columbia; 1350 Pennsylvania Ave., N.W.; Suite 114; Washington D.C. 20004. This hearing notice has been abbreviated to provide timely notice to the public.