HOUSE OF REPRESENTATIVES

151st GENERAL ASSEMBLY

HOUSE BILL NO. 483

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO REALTY TAXES AND THE DELAWARE FARMLAND PRESERVATION FUND.

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

Section 1. Amend § 5426, Title 30 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:

§ 5426. Farmland Preservation Fund receipt transfer.

On or before October 15 of each fiscal year, the State shall transfer $10 million $15 million in receipts received under Chapter 54 of this title, to the Farmland Preservation Fund maintained under Chapter 9 of Title 3.

SYNOPSIS

This bill increases the amount of realty transfer tax receipts transferred to the Delaware Farmland Preservation Fund to adjust for inflation. This funding amount has not been increased since 2005.