Reservoir District Tax Exemption Emergency Amendment Act of 2026

This bill amends the District of Columbia's tax code to designate specific property in the Reservoir District as affordable housing, thereby granting it a tax exemption. The key provision requires that one-third of the rental units be set aside for households earning at or below 80% of the area's Fair Market Rent, as defined by federal guidelines. This change is intended to provide immediate tax relief to the property while ensuring a portion of the housing remains accessible to lower-income residents. The legislation is structured as an emergency measure that will take effect only after approval by the Mayor or a Council veto override and will expire within 90 days.