§ 6-8. Supplemental Tax.

(a) Board of Estimates to determine assessable base.

(1) Upon enactment of this subtitle, the Board of Estimates shall obtain from the Director of Finance the "assessable base" of the District, which shall constitute a listing by property and a calculation of the sum of assessments on properties subject to the Supplemental Tax.

(2) Properties subject to the tax shall include all properties within the District except those exempt under this subtitle, the Enabling Legislation, or other applicable laws.

(3) The Board of Estimates shall determine with finality the assessable base upon which the Supplemental Tax will be based.

(b) Assessment; collection; enforcement.

(1) The funding for operation of the Authority shall be provided by a supplemental property tax (the "Supplemental Tax") on the assessable base of the District as determined in subsection (a).

(2) The Supplemental Tax shall be assessed and collected in conjunction with the property taxes assessed and collected by the City ("Regular Tax"), unless otherwise established by the Board of Estimates.

(3) Except as otherwise specified in paragraph (4) of this subsection, enforcement of the Supplemental Tax shall be in accordance with the enforcement of the Regular Tax, and all provisions applicable to the assessments, refunds, credits, collections, and enforcement which apply to the Regular Tax shall apply to the Supplemental Tax unless modified herein.

(4) The high-performance market-rate rental housing credit authorized by Article 28, § 10-18 {"High-performance market-rate rental housing – Citywide"} does not apply to the Supplemental Tax.

The Supplemental Tax rate shall be determined as follows:

(1) Any increase in the rate of the Supplemental Tax must be approved by a majority of the voting Board members.

(2) For the initial budget year, the rate of the Supplemental Tax shall be set to raise revenues equal to the costs of the Financial Plan but shall not exceed a full year rate of 30¢ per $100 of assessed value.

(3) For the first full budget year, the rate of the Supplemental Tax shall be set to raise revenues equal to the costs of the Financial Plan but shall not exceed 30¢ per $100 of assessed value, except that the rate may be adjusted to produce revenue equivalent to the full year 30¢ yield of the initial budget year.

(4) For any year after the first full budget year, the rate of the Supplemental Tax may be adjusted to yield revenues which are no more than 5% greater than in the prior year.

(d) Exemption for public service companies.

Exempt from the provisions of this subtitle relating to a supplemental annual property tax are the poles, conduits, tunnels, pipe lines, manholes, and other similar surface or subsurface structures, including their equipment, owned and controlled by a public service corporation, located on, over, or under streets, alleys, or other public ways or lands, the construction of which is authorized by the City, and the installation of which is regulated and supervised by the Department of Transportation.