Bill Text: DE SB237 | 2015-2016 | 148th General Assembly | Draft
Bill Title: An Act To Amend Title 30 Of The Delaware Code Relating To Neighborhood Assistance Tax Credits To Be Used For Housing
Sponsorship: Moderate Partisan Bill (Republican 10-3)
Status: (Introduced - Dead) 2016-05-03 - Assigned to Community/County Affairs Committee in Senate [SB237 Detail]
Download: Delaware-2015-SB237-Draft.html
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SPONSOR: |
Sen. Simpson & Sen. Cloutier & Sen. Henry & Rep. Dukes & Rep. Keeley |
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Sens. Hocker, Lavelle, Lopez, Pettyjohn; Reps. Kowalko, Miro, D. Short, Wilson |
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DELAWARE STATE SENATE 148th GENERAL ASSEMBLY |
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SENATE BILL NO. 237 |
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AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO NEIGHBORHOOD ASSISTANCE TAX CREDITS TO BE USED FOR HOUSING |
Section 1. Amend §006, Title 30, Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:
� 2006 Limitations on credits.
(a) The aggregate amount of such tax credits approved for all firms shall not exceed $500,000 in any 1 fiscal year.
(b) The Director of the Delaware State Housing Authority shall ensure that each application has the date and time of submission recorded. Credits will be awarded in chronological order based upon the date and time upon which each complete application is received by the Delaware State Housing Authority. If a credit award results in exceeding the $500,000 limitation for the fiscal year in which it is awarded, the amount by which such credit award exceeds $500,000 shall carry over to the succeeding fiscal year and shall receive priority for that year.
(c)Notwithstanding subsections (a) and (b) of this section, there shall be an additional aggregate amount of $500,000 in tax credits in each fiscal year which shall only be available for housing, as defined in §002 of this Title.
SYNOPSIS
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This Act expands the yearly tax credits available through the Neighborhood Assistance Act by an additional $500,000 per fiscal year for housing activities. |
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AUTHOR: Senator Simpson |
