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PR 26-0675 Legislature · 26th Council Period (2025-2026)

Provident Group - Bison Properties Inc. Revenue Bonds Project Approval Resolution of 2026

This resolution authorizes the District of Columbia to issue up to $460 million in tax-exempt revenue bonds to assist Provident Group - Bison Properties Inc. with three main financial activities. The funds will be used to pay off three existing bond series from 2022, purchase a long-term lease for the Mary M. Bethune Annex student dormitory at Howard University, and cover maintenance and safety upgrades for several student housing buildings. The legislation explicitly states that these bonds are not backed by the District's general funds or tax power, meaning the city has no financial liability if the project fails.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill authorizes issuance of tax-exempt revenue bonds to fund student housing and maintenance, directly advancing state budget and fiscal management for public services.95% confidence ✓ EducationSupports EducationBill funds student housing upgrades and lease purchases, directly supporting educational access and infrastructure.85% confidence ✓ HousingSupports HousingBill funds student housing maintenance, safety upgrades, and lease acquisition, directly strengthening housing availability and safety.90% confidence
Sub-Topics: Higher Education Debt & Bonds
Bill status signed all 4 stages cleared
Introduction
Apr 2026
Committee Review
Jul 2026
Council Passage
Jul 2026
Signed into Law
Jul 2026
Introduced Apr 24, 2026 Signed Jul 14, 2026
Maddy AI version diff · 1 comparison

What changed between versions

Introduction → Enrollment · 3 edits
MINOR
The bill was updated from a draft proposal to an enrolled version, changing the total authorized bond amount from $460 million to $575 million to include a new funding purpose. The scope expanded to explicitly authorize the acquisition and refunding of existing bonds for the Howard Manor project, which was missing from the original draft. Specific dollar amounts for the refunding of older bonds were also standardized to use 'million' instead of exact figures for consistency.
Scope change
The bill's scope expanded to include the acquisition and refunding of the Howard Manor project bonds, in addition to the previously listed Bison Properties and Mary M. Bethune Annex projects.
FISCAL

The total authorized principal amount for the revenue bonds was increased from $460,000,000 to $575,000,000.

SCOPE

A new purpose was added to authorize the acquisition and refunding of District of Columbia Revenue Bonds for the Howard Manor Issue (Series 2024), totaling $13,750,000.

MODIFIED

Specific dollar amounts for the refunding of the 2022A, 2022B-1, and 2022B-2 bonds were simplified from exact figures to rounded 'million' amounts for consistency.

Floor votes · Council Jul 14, 2026

How they voted

12–0
Passed · 1 other
Total votes 13
Jul 14, 2026
D Democratic11
10 Yea 1
90% Yea
I Independent2
2 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
12
Key actions
2
Committee
2
Jul 14, 2026
Council · Passed
Council Vote: pass (12-0-1)
council
Jul 14, 2026
Legislature · Passed
Committee Mark-up of PR26-0675 by the Committee of the Whole
legislature
May 5, 2026
Committee
Referred to Committee of the Whole
legislature
Apr 24, 2026
Introduced
PR26-0675 Introduced by Chairman Mendelson at Office of the Secretary
legislature
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Phil Mendelson
Phil Mendelson
DDemocratic
DC
Chairman