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|Councilmember Sharon Ambrose
Councilmember Phil Mendelson
A BILL IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
Councilmembers Mendelson and Ambrose introduced the following bill which was referred to the Committee on Finance and Revenue.
To exempt from the tax imposed on personal property the personal property of any person, corporation or partnership with annual gross receipts of three hundred and fifty thousand dollars or less.
BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, that this act may be cited as the "Small Business Personal Property Tax Exemption Act of 2001 ".
Sec. 2. Section 47-1508(a) of the District of Columbia Code is amended to read as follows:
Sec. 3. Fiscal impact statement.
The Council adopts the fiscal impact statement in the committee report as the fiscal impact statement required by section 602(c)(3) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Code §1-233(c)(3)).
Sec. 4. Effective date. This act shall take effect following approval by the Mayor (or in the event of veto by the Mayor, action by the Council of the District of Columbia to override the veto), approval by the Financial Responsibility and Management Assistance Authority as provided in section 203(a) of the District of Columbia Financial Responsibility and Management Authority Act of 1995, approved April 17, 1995 (109 Stat. 116; D.C. Code § 47-392.3(c)), and a 30-day period of Congressional review as provided in section 602(c)(1) of the District of Columbia Home Rule Act, approved December 24, 1973 (Stat. 813; D.C. Code § 1-233(c)(1)), and publication in the District of Columbia Register.
GOVERNMENT OF THE DISTRICT OF COLUMBIA
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