National Capital Revitalization Act of 1998 Amendment Act of 2001
Bill 14-313

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A BILL IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

To amend the National Capital Revitalization Corporation Act of 1998 to establish the date on which the Board of Directors of the National Capital Revitalization Corporation shall succeed to the powers, duties, and responsibilities of the Board of Directors of the Redevelopment Land Agency; to extend the date by which the Board of Directors of the National Capital Revitalization Corporation shall succeed to the powers, duties, and responsibilities of the Board of Directors of the Economic Development Finance Corporation; and to extend the date by which the authorities, responsibilities, and functions the Office of Economic Development shall be transferred to the Board of Directors of the National Capital Revitalization Corporation.

BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA,

That this act may be cited as the "National Capital Revitalization Corporation Act of 1998 Amendment Act of 2001 ".

Sec. 2. Section 30 of the National Capital Revitalization Corporation Act of 1998, effective September 11, 1998 (D.C. Law 12-144; D.C. Code § 2-1219.29) is amended as follows:

(1) Subsection (a)(2) is amended by striking the phrase "shall take effect on a date to be determined by the Council, not prior to July 1, 1999, but not later than 1 year after the initial meeting of the Board" and inserting the phrase "shall take effect on July 15, 2001" in its place.

(2) Subsection (b)(2) is amended by striking the phrase ", but not later than one year after the initial meeting of the Board" and inserting the phrase ", but not later than eighteen months after the initial meeting of the Board" in its place.

(3) Subsection (d)(2) is amended by striking the phrase "shall take effect on a date to be determined by the Board, but not later than one year after the initial meeting of the Board" and inserting the phrase "shall take effect on a date to be determined by the Board, but not later than eighteen months after the initial meeting of the Board" in its place.

Sec. 3. 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. Official Code §1-206.02(c)(3)).

Sec. 4. This act shall take effect following approval by the Mayor (or in the event of 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(x) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995, approved April 17, 1995 (109 Stat. 116; D.C. Official Code §47392.03(x)), 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 Official Code § 1-206.02(c)(1)), and publication in the District of Columbia Register.