Section 11-704.2. Special credit  


Latest version.
  • A tenant whose base rent for the tax year
      beginning June first,  nineteen  hundred  ninety-three  and  ending  May
      thirty-first,  nineteen  hundred ninety-four is at least eleven thousand
      dollars per year but not in excess of  thirteen  thousand  nine  hundred
      ninety-nine  dollars  per year shall be allowed a credit against the tax
      imposed by this chapter for such tax year, such credit shall be equal to
      twenty-five percent of the tax imposed on such base rent  for  such  tax
      year.  Where  the base rent of a tenant is for a period of less than one
      year, such base rent shall, for purposes of this section, be  determined
      as if it had been on an equivalent basis for the entire year. The credit
      allowed  under  this section shall be deducted prior to the deduction of
      any credit allowable under section 11-704.1 of this chapter.