DE SB149

Amends Delaware estate tax law (Title 30, Chapter 15) to align with current federal estate tax provisions and eliminate outdated references related to uncertain federal tax outcomes from 2009.

Redefines "Delaware taxable estate" as the modified federal taxable estate reduced by an exemption amount that varies based on the decedent's date of death ($3,500,000 for deaths between June 30-December 31, 2009; $5,000,000 for certain 2010 deaths; applicable exclusion amount under Internal Revenue Code §2010(c) for deaths after December 31, 2010).

Updates the estate tax rate table for resident decedents dying after June 30, 2009, with progressive rates ranging from 0% to 16% applied to Delaware taxable estate brackets from $0 to $10,040,000 and above.

Modifies definitions of "modified federal taxable estate" to include adjustments for state death tax deductions, qualified terminable interest property elections, and exclusions for enrolled farmland and agricultural buildings.

Effective for estates of decedents dying on or after July 1, 2013, with no change to actual tax liabilities or rates.