District of Columbia § 42-2853.02 Low-Income Housing Tax Credit Fund.

District of Columbia Statutes

§ 42-2853.02 — Low-Income Housing Tax Credit Fund.

District of Columbia § 42-2853.02

Title 42Real Property.

Ch. 28BLow-Income Housing Tax Credit Fund.

This text of District of Columbia § 42-2853.02 (Low-Income Housing Tax Credit Fund.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 42-2853.02 (2026).

Text

(a)There is hereby established a lapsing fund known as the Low-Income Housing Tax Credit Fund (“Fund”). All monies received shall be used for the uses and purposes set forth in this chapter, subject to authorization by the Council and Congress. Any unexpended monies in the Fund shall revert to the unrestricted fund balance of the General Fund of the District of Columbia.

(b)Money in the Fund shall be expended by the Department only for administrative costs and for the audit required under subsection (c) of this section.

(c)All income and expenses of the Fund shall be audited annually by the Mayor. The audit report shall be submitted to the Council. The expenses for each audit shall be paid by the Fund.

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(a) There is hereby established a lapsing fund known as the Low-Income Housing Tax Credit Fund (“Fund”). All monies received shall be used for the uses and purposes set forth in this chapter, subject to authorization by the Council and Congress. Any unexpended monies in the Fund shall revert to the unrestricted fund balance of the General Fund of the District of Columbia.

(b) Money in the Fund shall be expended by the Department only for administrative costs and for the audit required under subsection (c) of this section.

(c) All income and expenses of the Fund shall be audited annually by the Mayor. The audit report shall be submitted to the Council. The expenses for each audit shall be paid by the Fund.