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DE HB439

Bill

Official Source

Status

Passed

7/15/2010

Primary Sponsor

Robert Venables

Click for details

Origin

House of Representatives

145th General Assembly

AI Summary

  • Amends the Charter of the Town of Laurel to allow financing of eligible costs for Tax Increment Financing (TIF) districts and special development districts under Section 36A
  • Permits projects and items financed through TIF or special development districts to be owned by the Town of Laurel, State of Delaware, or any state agency, county, political subdivision, utility district, or similar entity
  • Expands machinery and equipment financing to include equipment needed by state agencies, counties, and other political subdivisions to provide services to TIF districts and special development districts
  • Overrides conflicting provisions in Section 1801 of Title 22 of the Delaware Code regarding public purpose acquisitions and machinery/equipment financing
  • Includes severability clause to preserve the Act if any provision is deemed invalid

Legislative Description

An Act To Amend Chapter 288, Volume 64, Laws Of Delaware, As Amended, The Charter Of The Town Of Laurel, To Allow The Town Of Laurel To Finance The Eligible Costs Of Qualifying Projects And Items For A Tax Increment Financing (tif) District And A Special Development District Created By The Town Of Laurel Under Section 36a Of The Charter, Whether Any Such Project Or Item Will Ultimately Be Owned By The Town Of Laurel Or By The State Of Delaware Or Any Agency Or Instrumentality Thereof, Or Any County, Local Political Subdivision, Instrumentality, Agency, Body Politic, Utility District, Or Similar Entity Within The State Of Delaware.

Last Action

Signed by Governor

7/15/2010

Committee Referrals

Community/County Affairs6/17/2010
Administration6/3/2010

Full Bill Text

No bill text available