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(b) Purchasers may request an installment payment plan to pay the taxes due pursuant to this act.
(c) All taxes, fees, and assessments that accrue, from the date of settlement forward, shall be paid by the new owner.
(d) Property acquired pursuant to this act must be fully rehabilitated and occupied by the purchaser within 6 months of the date of purchase.
(e) The new owner shall reside in the property for not less than 1 year after the date of purchase.
(f) During the 6 month rehabilitation period the owner shall allow periodic inspection of the property by the District of Columbia government or its agent.
(g) Fire and extended insurance coverage for the property shall be maintained by the new owner.Sec. 4. Fiscal impact. The Council adopts the fiscal impact statement in the committee report as the fiscal impact statement required by section 602(c)(3) of District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Code § 1-233 (c)(3)).
Sec. 5. This act shall take effect following approval by the Mayor (or in the event of a veto by the Mayor, action by the Council 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 Assistance Act of 1995, approved April 17, 1995 (109 Stat. 116; D.C. Code §47-392.3(a)), 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 (87 Stat. 813; D.C. Code § 1-233(c)(1)), and publication in the District of Columbia Register.
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