Delaware General Assembly

Signed 8/4/99

The General Assembly has ended, the current status is the final status.

8/3/99

Henry

Sen. Blevins, Sharp, Bunting, Adams, Cook, McDowell, DeLuca, Amick, Marshall, Bair, McBride, Sokola, Vaughn, Venables, Bonini, Connor, F Simpson, Sorenson, Still, Winslow
Reps. Boulden, Buckworth, Hudson, Carey, Cathcart, Caulk, Spence, Cloutier, Smith, D. Ennis, Gilligan, VanSant, Ewing, Fallon, Welch, Lee, Lofink, Maier, Miro, Oberle, Quillen, Reynolds, Roy, Stone, Ulbrich, Valihura, Wagner, Brady, DiLiberto, Ennis, Houghton, Keeley, Mulrooney, Plant, Price, Schroeder, Scott, Viola, West, D.P. Williams

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO THE BUSINESS TAX CREDITS AND DEDUCTIONS.

This bill replaces the existing Neighborhood Assistance Tax Deduction with the Neighborhood Assistance Tax Credit, which gives qualifying firms up to $100,000 to offset tax liability under the corporations income tax. In addition, the bill expands the scope of qualifying activities to include housing and economic development. It further allows businesses to qualify for credits based on donations to non-profit, tax-exempt community-based economic development organizations or community-based development corporations.

72:250

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