District Of Columbia § 2-1221.01 - Security deposit assistance.
Full text of District Of Columbia D.C. Code § 2-1221.01 — Security deposit assistance., with citation guidance and answers to common questions.
§ 2-1221.01. Security deposit assistance.
2-1221.01The Mayor shall establish a program to provide funding assistance for the security deposit required for a lease of real property for operations of a Qualified High Technology Company, as defined in .
No funding assistance shall be provided under this section if:
Other financial assistance meeting the requirements of the applicant is available on reasonable terms; or
If the Mayor determines that there exists a reasonable expectation that the Qualified High Technology Company will not perform the covenants and conditions of the lease.
In exchange for funding assistance under this section, a Qualified High Technology Company shall provide:
Training courses to District of Columbia Public School teachers and administrators for the more efficient use of technology in the education process;
Internships to District of Columbia Public School students throughout the calendar year;
Employment to District of Columbia Public School students during the summer months when school is not in session;
Technical support or expertise, including networking and maintaining computer systems and other related activities; or
Any other assistance considered appropriate or acceptable by the Mayor.
The Mayor shall, at 6-month intervals following the commencement of the program, report to the Council on the terms and results of the program, including any agreement entered into under subsection (b) of this section, as of the date of each report.
To implement the program described in subsection (a) of this section, the Mayor may enter into an agreement with a Qualified High Technology Company, commercial real estate broker, landlord, venture capitalist, business incubator, technology company, commercial bank, investment banker, or a for-profit, nonprofit, or public-sector entity, in connection with the provision of a security deposit for real property and equipment by, or on behalf of, a Qualified High Technology Company. The agreement shall state the total cost to the District of Columbia and the proportion which the cost to the District of Columbia bears to the total cost of the agreement. The Mayor shall make reasonable provision to ensure repayment to the District of Columbia of all amounts provided as assistance under this section. The Mayor may accept, in exchange for the District of Columbia’s participation in any such agreements, warrants, options, equity, preferred shares, or convertible debt of the applicable Qualified High Technology Company, or other consideration.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 2-1221.01
What does D.C. Code § 2-1221.01 cover?
Section 2-1221.01 ("Security deposit assistance.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 2-1221.01?
A common citation format is "D.C. Code § 2-1221.01" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 2-1221.01 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.