DE HB291

Reinstates Delaware's estate tax for decedents dying after June 30, 2009 by decoupling from federal law and referencing the Internal Revenue Code as it existed on January 1, 2001.

Calculates estate tax using the federal state tax credit rate schedule available in 2001, with updates for filing duties and taxable estate calculations through the earlier of the decedent's death or federal estate tax repeal.

Applies the same tax calculation method to nonresident decedents with Delaware real or tangible personal property, reduced by a fraction representing the ratio of Delaware taxable assets to total taxable assets.

Requires estate tax returns to be filed within nine months of death for any resident or nonresident decedent who would have been required to file a federal return under the January 1, 2001 Internal Revenue Code.

Exempts farmland enrolled in the Delaware Agricultural Lands Preservation Act program from estate tax liability on transfers by death.