DE SB149

Removes the population-based payment schedule for compensatory tax payments to county seats, which previously provided 30.8% reimbursement to smaller counties (0-50,000 residents) and 100% to larger counties (above 50,000 residents)

Requires the Secretary of Finance to direct payment of the full tax assessed to county seats for state-owned properties (excluding those owned by Delaware Housing Authority, Delaware Solid Waste Authority, Delaware State University, or University of Delaware)

Maintains the annual cap of $3,000,000 total compensatory payments across all three county seats in any state fiscal year

Establishes a proportional distribution formula if total assessed taxes exceed $3,000,000, allocating payments based on each county seat's share of total assessed amounts

Grants the Secretary of Finance the right to withhold payments until assessments and appraisals from all three counties have been submitted and verified