4902591 Resolution 20-468, “Residential Real Property Equity and Transparency Emergency Declaration Resolution of 2014”

A RESOLUTION

20-468

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

May 6, 2014

 

To declare the existence of an emergency with respect to the need to limit legal fees in tax sales, to provide for distribution of equity to former owners where the property was sold at tax sale and occupied by owners, to provide for clean hands and tax compliance by tax sale purchases, to clarify that the District may abate penalty and interest associated with a tax sale property, to clarify and limit the amount of interest paid to tax sale purchasers, to allow for refunds to tax sale purchasers pending payment of legal fees to them, to deem a tax sale property’s taxes current for purposes of redemption when paid to within $100, to provide for recordation and transfer tax exemptions for a transfer pursuant to a transfer on death deed, to protect the District’s interest as ground lessor from the tax sale, to provide effective means for billing and collecting energy efficiency loans, and to allow a tax sale purchaser to appeal the assessment of vacant and blighted properties purchased at tax sale.

 

            RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “Residential Real Property Equity and Transparency Emergency Declaration Resolution of 2014”.

 

            Sec. 2.  (a)  The permanent version of this legislation, Bill 20-23, passed first reading in April. As notices for real property taxes in advance of a potential summer tax sale process are beginning to be issued now, it is important that certain provisions of this legislation are enacted on an emergency basis to enact additional protections for homeowners. 

            (b)  The emergency legislation consists of those portions of the permanent legislation that have no fiscal impact. The remainder of the permanent legislation will be funded in the budget process. 

 

            Sec. 3.  The Council of the District of Columbia determines that the circumstances enumerated in section 2 constitute emergency circumstances making it necessary that the Residential Real Property Equity and Transparency Emergency Amendment Act of 2014 be adopted after a single reading.

 

            Sec. 4.  This resolution shall take effect immediately.