Limited Equity Cooperative Property Tax Assistance Amendment Act of 2021

Limited Equity Cooperative Property Tax Assistance Amendment Act of 2021

B24-0431 – Limited Equity Cooperative Property Tax Assistance Amendment Act of 2021 (dccouncil.us)

BILL SUMMARY – As introduced Bill 24-431 would clarify the definition of a limited equity cooperative (LEC) to include those that have membership limitations in its articles of incorporation or organization, limit the household income of a buyer, and requires a vote of at least 2/3 of its membership to amend its articles of incorporation or organization. It would also make the property tax abatement for LECs permanent for those households that meet certain income levels.

View Legislation Details (dccouncil.us)

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Limited Equity Cooperative Advisory Council Act of 2021

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