Bill Text: DE HB327 | 2009-2010 | 145th General Assembly | Draft

Delaware House Bill 327 (Prior Session Legislation)

Draft

Bill Title: An Act To Amend Title 9 Of The Delaware Code Relating To Realty Transfer Tax.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced - Dead) 2010-04-20 - Stricken [HB327 Detail]

Download: Delaware-2009-HB327-Draft.html

SPONSOR:

Rep. Viola & Sen. Hall-Long ;

Reps. Mitchell Mulrooney

HOUSE OF REPRESENTATIVES

145th GENERAL ASSEMBLY

HOUSE BILL NO. 327

AN ACT TO AMEND TITLE 9 OF THE DELAWARE CODE RELATING TO REALTY TRANSFER TAX.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1.Amend �8102(a), Title 9 of the Delaware by inserting the language "when the purchase price is less than $400,000" after the words "first time homebuyers" and before the period "." at the end of the first sentence thereof.

Section 2.This Act shall become effective upon enactment.

SYNOPSIS

This Act authorizes the counties to limit the first time homebuyer realty transfer tax exemption to properties for which the purchase price is less than $400,000, thereby balancing the needs of individuals striving to purchase their first home with the counties' need for fiscal responsibility.