District Of Columbia § 2-1225.21 - Economic Development Special Account.
Full text of District Of Columbia D.C. Code § 2-1225.21 — Economic Development Special Account., with citation guidance and answers to common questions.
§ 2-1225.21. Economic Development Special Account.
2-1225.21There is established as a nonlapsing fund the Economic Development Special Account (“Account”), which shall be used solely for the purposes set forth in this section.
Deposits into the Account shall include:
All operating funds transferred from the Anacostia Waterfront Corporation Enterprise Fund, established by [repealed];
All operating funds transferred from the National Capital Revitalization Corporation Enterprise Fund, established by [repealed];
All fees, revenues, and other income from real property or other assets formerly under the authority of the National Capital Revitalization Corporation (“NCRC”) or the Anacostia Waterfront Corporation (“AWC”), or any of their subsidiaries, which include the RLA Revitalization Corporation, Southwest Waterfront Development Corporation, Southwest Waterfront Holdings Corporation, and Economic Development Finance Corporation;
Funds authorized by an act of Congress, reprogramming, or intra- District transfer to be deposited into the Account;
Any other monies designated by law to be deposited into the Account; and
Interest on money deposited in the Account.
Funds deposited into the Account pursuant to this subsection shall be maintained in segregated sub-accounts associated with each revenue source as the Chief Financial Officer determines necessary.
The funds deposited into the Account, and any interest earned on those funds, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time, but shall be continually available for the uses and purposes set forth in subsections (c) and (d) of this section without regard to fiscal year limitation, subject to authorization by Congress.
Monies credited to the Account shall be allocated annually to the Office of the Deputy Mayor for Planning and Economic Development in an aggregate amount that is equal to the total deposits and earnings that are estimated to remain unspent in the Account at the end of the preceding fiscal year plus all deposits and earnings that are estimated to be received during the fiscal year for which the allocation is made.
Monies may be used to pay the costs of operating and administering properties and programs under the authority of the Deputy Mayor for Planning and Economic Development, including properties and programs formerly operated and administered by the NCRC and the AWC, to provide economic development assistance, including the provision of grants, loans, and credit support or enhancement, and to implement other programs, projects, and initiatives that:
Are consistent with and in furtherance of the economic development goals or activities of the District;
Further meeting the requirements of providing jobs for District residents, creating affordable housing, and restoring the District’s waterways pursuant to [ et seq.];
Support the development of a workforce intermediary pursuant to or
Facilitate the implementation of the environmental standards pursuant to [ et seq.].
In Fiscal Year 2017 and each fiscal year thereafter, up to $3 million in monies credited to the Account may be used to fund real property tax rebates to one or more Qualified High Technology Companies (“QHTCs”), as defined by , pursuant to .
Fees, revenue, and other income that otherwise would be deposited into the Account under this section but that are subject to Community Development Block Grant regulations shall be deposited into a segregated sub-account designated for Community Development Block Grant funds and shall be subject to applicable reporting to the United States Department of Housing and Urban Development.
The funds in the segregated sub-account shall be included as a segregated line item in the budget of the Department of Housing and Community Development that the Mayor is required to submit to the Council pursuant to , and shall be designated for use by the Deputy Mayor for Planning and Economic Development, consistent with the requirements of the Community Development Block Grant Program.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 2-1225.21
What does D.C. Code § 2-1225.21 cover?
Section 2-1225.21 ("Economic Development Special Account.") 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 § 2-1225.21?
A common citation format is "D.C. Code § 2-1225.21" (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 § 2-1225.21 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.