CHAPTER 242
FORMERLY
HOUSE BILL NO. 626
AN ACT PROPOSING AN AMENDMENT TO THE CONSTITUTION OF THE STATE OF DELAWARE RELATING TO THE IMPOSITION OF TAXES OR LICENSE FEES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Two-thirds of all members elected to each House thereof concurring therein):
Section 1. Amend Article VIII, of the Constitution of the State of Delaware by adding a new Section 11 thereto as follows:
"§ll. Imposition or levy of new taxes or license fee
(a) No tax or license fee may be imposed or levied except pursuant to an act of the General Assembly adopted with the concurrence of three-fifths of all members of each House.
(b) Prior to the beginning of each fiscal year of the State, the General Assembly shall appropriate revenues of the State to pay interest on its debt to which it has pledged its faith and credit and which interest is payable in the year for which such appropriation is made and to pay the principal of such debt, payable in such year, whether at maturity or otherwise. To the extent that insufficient revenues of the State are available to pay principal of and interest on such debt when due and payable, the first public moneys of the State thereafter received shall be set aside and applied to the payment of the principal of and interest on such debt. To make up for such insufficient revenues, the General Assembly may increase the rate of taxes and fees without regard to the limitations of Paragraph (a) hereof after the failure to pay when due the principal of and interest on such debt."
Section 2. The provisions of this bill shall not apply to any tax or license fee authorized by an act of the General Assembly but not effective upon the effective date of this bill.
Approved May 15, 1980.