Page:United States Statutes at Large Volume 111 Part 1.djvu/788

 Ill STAT. 764 PUBLIC LAW 105-33—AUG. 5, 1997 otherwise apply to the District of Columbia government or its agencies in any appropriations act. Subtitle D—Privatization of Tax Collection and Administration SEC. 11301. FINDINGS. Congress finds as follows: (1) The District of Columbia government has historically had a poor record of determining and collecting all revenue it is due under its revenue code. (2) The impact on the District's financial condition of poor administration and collection is significant and has contributed both to the size of its accumulated operating deficit and to the difficulty in balancing the budget going forward. (3) More complete collection of taxes would not only increase District of Columbia revenues, but would give residents and businesses a sense of equity and that all were paying their fair share. (4) Once District tax processing and collection is competently managed it will be possible for the District government to accurately assess the true value of its many taxes and determine that some may be reduced or eliminated without a significant negative impact on revenues. (5) Any reduction or elimination of non-productive or counterproductive taxes or taxes which cost more to administer than they produce in revenue would significantly improve the negative atmosphere surrounding the District of Columbia tax system and its enforcement. SEC. 11302. AUTHORIZING CHIEF FINANCIAL OFFICER TO PRIVATIZE TAX ADMINISTRATION AND COLLECTION. The Chief Financial Officer of the District of Columbia may enter into contracts with a private entity for the administration and collection of taxes of the District of Columbia. Subtitle E—Financing of District of Columbia Accumulated Deficit SEC. 11401. FINDINGS. Congress finds as follows: (1) The District of Columbia government sold accumulated deficit financing bonds in 1991. (2) Between 1991 and the end of fiscal year 1997 the District of Columbia government is expected to accumulate an operating deficit in excess of $500,000,000. (3) Requiring the District of Columbia budget for fiscal year 1998 to be balanced will ensure that no further addition is made to the accumulated operating deficit. (4) In every other example of an American city in financial crisis, a vital and necessary component of recovery was to finance the accumulated operating deficit. (5) Carrying forward an accumualted operating deficit of more than $500,000,000 has a significant negative impact on

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