Walter Reed Development Assistance Temporary Amendment Act of 2024

This bill temporarily amends existing laws to change how funds from the Walter Reed development project are handled after October 1, 2023. Instead of being held in a fund, any money the developer pays as an initial consideration payment will be immediately issued as a grant back to the developer. These funds must be used to pay for or reimburse costs related to job creation and economic development at the Walter Reed redevelopment site. The measure is designed to take effect after approval and will remain in force for no longer than 225 days.