Bill Text: DE HB344 | 2011-2012 | 146th General Assembly | Draft

Delaware House Bill 344 (Prior Session Legislation)

Draft

Bill Title: An Act To Amend Title 30 Of The Delaware Code Relating To Personal Income Tax.

Sponsorship: Slight Partisan Bill (Republican 12-6)

Status: (Introduced - Dead) 2012-06-21 - Amendment HA 1 - Introduced and Placed With Bill [HB344 Detail]

Download: Delaware-2011-HB344-Draft.html

SPONSOR:

Rep. Carson & Sen. Ennis;

Reps.;Briggs King, Hocker, Hudson, Q. Johnson, Peterman, D. Short, Walker, Willis, Wilson, Sens. Bunting, Venables

HOUSE OF REPRESENTATIVES

146th GENERAL ASSEMBLY

HOUSE BILL NO. 344

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO PERSONAL INCOME TAX.

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

Section1.Amend �1110, Title 30 of the Delaware Code by making insertions as shown by underlining as follows:

(d) For tax years after December 31, 2011, a resident shall be allowed an exemption on all income and/or capital gains received from the sale or granting of an agricultural lands preservation easement pursuant to Chapter 9, Title 3 of this Code or from the sale or granting of an easement through any county, state or federal program in which land is preserved for agricultural purposes.

SYNOPSIS

This bill provides that any income and/or capital gain received from easements preserving agricultural land shall not be taxed for purposes of Delaware personal income taxes.