6601.1 Abatements approved pursuant to this chapter shall be subject to the availability of funding.

6601.2 The total amount of tax abatements approved, certified, or restored for all developments shall not exceed:

(a) Two million five hundred thousand dollars ($2,500,000) for each of Fiscal Years 2024, 2025, and 2026;

(b) Six million eight hundred thousand dollars ($6,800,000) for Fiscal Year 2027;

(c) Forty-one million dollars ($41,000,000) for Fiscal Year 2028; and

(d) For each succeeding fiscal year after Fiscal Year 2028, one hundred four percent (104%) of the prior fiscal year's cap.

6601.3 Abatements approved pursuant to this chapter shall be subject to the availability of appropriated funding.

SOURCE: Final Rulemaking published at 71 DCR 003248 (March 22, 2024).