Bill Text: DE SB184 | 2015-2016 | 148th General Assembly | Draft
Bill Title: An Act To Amend Title 6 Of The Delaware Code Relating To Commerce And Trade, The Riverfront Development Corporation Of Delaware, And The Delaware Stadium Corporation.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2016-01-28 - Assigned to Bond Committee in Senate [SB184 Detail]
Download: Delaware-2015-SB184-Draft.html
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SPONSOR: |
Sen. Marshall & Rep. Mulrooney |
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DELAWARE STATE SENATE 148th GENERAL ASSEMBLY |
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SENATE BILL NO. 184 |
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AN ACT TO AMEND TITLE 6 OF THE DELAWARE CODE RELATING TO COMMERCE AND TRADE, THE RIVERFRONT DEVELOPMENT CORPORATION OF DELAWARE, AND THE DELAWARE STADIUM CORPORATION. |
Section 1. Amend Title 6 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:
§7801. Restrictions on the powers of the Riverfront Development Corporation of Delaware and the Delaware Stadium Corporation.
(a) Any laws to the contrary notwithstanding, the Riverfront Development Corporation of Delaware and the Delaware Stadium Corporation are henceforth prohibited from entering into any contract or other transaction for the purchase, acquisition, assignment, sale, transfer, or divestiture of real property unless: (1) the chairperson of the Board of the corporation proposing to enter into such a contract or transaction makes a presentation to the Joint Committee of Capital Improvement discussing the terms of the proposed contract or transaction; (2) following the presentation, the members of the Joint Committee on Capital Improvement explain the terms of the proposed contract or transaction to their respective caucuses; and (3) the General Assembly, within 30 days of the presentation of the chairperson of the Board of the corporation to the Joint Committee on Capital Improvement to the General Assembly, approves by concurrent resolution the proposed contract or transaction in its entirety. The Delaware General Assembly may reject by concurrent resolution the proposed contract or transaction in its entirety in which case the corporation shall not enter into the proposed contract or transaction. Notwithstanding the foregoing, if the General Assembly does not approve or reject the proposed contract or transaction in its entirety by concurrent resolution within 30 days of the presentation of the proposed contract or transaction to the Joint Committee on Capital Improvement, the proposed contract or transaction shall be deemed rejected by the General Assembly and the Corporation shall not enter into the proposed contract or transaction. No assignment of any contract or transaction that has been approved in accordance with this subparagraph shall be valid unless such assignment is itself approved in accordance with the procedures set forth herein.
SYNOPSIS
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The purpose of this bill is to restrict the powers of the Riverfront Development Corporation of Delaware and the Delaware Stadium Corporation to engage in real estate transactions. |
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Author:Senator Marshall
