Bill Text: DE SB260 | 2017-2018 | 149th General Assembly | Draft

Delaware Senate Bill 260 (Prior Session Legislation)

Draft

Bill Title: An Act To Amend Section 2 Of Chapter 413, Volume 77 Of The Laws Of Delaware And Title 30 Of The Delaware Code Relating To An Extension Of The Historic Preservation Tax Credit Act.

Spectrum: Moderate Partisan Bill (Democrat 5-1)

Status: (Introduced - Dead) 2018-06-26 - Reported Out of Committee (Finance) in Senate with 4 On Its Merits [SB260 Detail]

Download: Delaware-2017-SB260-Draft.html

SPONSOR:	Sen. Henry & Rep. Kowalko & Rep. Hudson
Sen. Hansen; Reps. Brady, Heffernan

DELAWARE STATE SENATE

149th GENERAL ASSEMBLY

SENATE BILL NO. 260

AN ACT TO AMEND SECTION 2 OF CHAPTER 413, VOLUME 77 OF THE LAWS OF DELAWARE AND TITLE 30 OF THE DELAWARE CODE RELATING TO AN EXTENSION OF THE HISTORIC PRESERVATION TAX CREDIT ACT.

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

Section 1. Amend Section 2, Chapter 413, Volumes 77 of the Laws of Delaware by making deletions as shown by strike through and insertions as shown by underline as follows:

The Historic Preservation Tax Credit Act shall be effective for approvals granted in fiscal years ending before June 30, 2020.

Section 2. Amend § 1811, Title 30 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:

§ 1811. Statement of purpose; short title.

(a) The General Assembly finds and declares that many properties and structures associated with Delaware's history, and in some cases the history of this nation, have been steadily disappearing over the past 50 years, or longer. Once gone, they are gone forever, and can never be replaced. Each year, it seems, there are less and less. The General Assembly firmly believes that the private sector is uniquely able to be a major factor in the preservation of many of Delaware's historic structures. The General Assembly finds that historic preservation tax credits have proven to be economic drivers that result in significant job creation and growth while successfully preserving historic buildings across the state.

(b) This subchapter shall be known as the "Historic Preservation Tax Credit Act."

(c) The Historic Preservation Tax Credit Act is effective for an approval granted in a fiscal year that ends before June 30, 2030.

SYNOPSIS

Senate Bill No. 209, enacted by the 145th General Assembly, extended the Historic Preservation Tax Credit Act through June 2020. This Act extends the Historic Preservation Tax Credit Act through June 2030 and puts the provision regarding the effective date in the statute.

Author: Senator Henry