DE SB91

Amends the Delaware Bank Franchise Tax by reducing the location benefit tax liability to $1,600,000 plus tiered percentages based on asset values (0.012% for assets up to $5 billion, 0.008% for $5-20 billion, 0.004% for $20-90 billion).

Creates a 10-year tax credit (2012-2021) allowing banking organizations to claim $1,250 per new qualified employee hired above baseline employment levels, provided at least 200 new jobs are created.

Requires banking organizations to make minimum capital investments of $15,000 per qualified employee in land, improvements, machinery, and equipment placed in service after December 2011.

Defines qualified employees as full-time workers employed in Delaware with health care benefits, continuously employed for at least 6 months, and not previously employed at the same facility during the base year (2011).

Effective January 1, 2012 for all provisions, with the employment tax credit provisions expiring January 1, 2022.