DE HB341

Amends Delaware Code Title 30 Section 4302(a) to add an exemption from the 2.0114% use tax on leases of tangible personal property for motion picture films leased by film society organizations exempt from federal income tax under Section 501(c) of the Internal Revenue Code.

Maintains existing exemptions from the use tax for leases of motor vehicles, household furniture, household fixtures, household furnishings, hospital equipment, medical and remedial equipment, aids and devices for elderly or disabled persons, and manufacturing equipment under leveraged leases guaranteed by the Economic Development Administration.

Includes a severability clause providing that if any provision of the Act is found invalid, other provisions remain in effect.

Becomes effective for taxable periods beginning after December 31, 2011.