District of Columbia § 8-637.03 Environmental Savings Account Program.

District of Columbia Statutes

§ 8-637.03 — Environmental Savings Account Program.

District of Columbia § 8-637.03

Title 8Environmental and Animal Control and Protection.

Ch. 6ABrownfield Revitalization.

Subch. VIICleanup Incentives.

This text of District of Columbia § 8-637.03 (Environmental Savings Account Program.) 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 § 8-637.03 (2026).

Text

The Mayor shall establish an Environmental Savings Account Program which shall permit any person, to establish an Environmental Savings Account (“ESA”) for the purpose of accumulating funds to be used for the cleanup or the redevelopment of a contaminated property. Funds deposited in an ESA and the interest earned on the funds shall be exempt from District income tax; provided, that any funds withdrawn that are not used for cleanup and redevelopment shall be subject to income tax and a 10% penalty.

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The Mayor shall establish an Environmental Savings Account Program which shall permit any person, to establish an Environmental Savings Account (“ESA”) for the purpose of accumulating funds to be used for the cleanup or the redevelopment of a contaminated property. Funds deposited in an ESA and the interest earned on the funds shall be exempt from District income tax; provided, that any funds withdrawn that are not used for cleanup and redevelopment shall be subject to income tax and a 10% penalty.