Senate Bill 50
150th General Assembly (Present)
Adopted in Lieu of original; takes status of original
AN ACT TO AMEND TITLE 14 AND TITLE 29 OF THE DELAWARE CODE RELATING TO THE ESTABLISHMENT OF A COMMUNITY COLLEGE INFRASTRUCTURE FUND.
Delaware's statewide community college system, operated by Delaware Technical and Community College (“the College”), plays a critical role in the State's economy by providing workforce development, vocational training and transfer education that connects Delawareans with good paying jobs within the State and region. This Act gives the College’s Board of Trustees the authority to issue bonds to finance the cost of major and minor capital improvements, deferred maintenance, and the acquisition of related equipment and educational technology and establishes the Community College Infrastructure Fund (“the Fund”) to pay the principal and interest on such bonds. This Act adopts the county Vo-Tech structure to finance the Fund by authorizing the College's Board of Trustees to collect a local property tax, subject to a cap. All money raised in a county must be placed in a segregated account and spent exclusively on projects in that county, thereby eliminating any possibility of applying this Act in an unconstitutional manner. This Act also provides a mechanism, but not an obligation, for the state to provide matching funds for minor capital improvement projects consistent with existing matching provisions for public education. Property taxes raised pursuant with this Act cannot be used to fund any local match. This Act also makes technical corrections to conform existing law to the standards of the Delaware Legislative Drafting Manual.
Takes effect upon being signed into law