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DE HB10
Bill
Status
3/4/2021
Primary Sponsor
John Kowalko
Click for details
AI Summary
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Delaware enters into the Agreement to Phase-Out Corporate Giveaways with other member states that adopt the agreement.
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Member states are prohibited from offering company-specific tax incentives or grants to entities as inducement to relocate existing facilities from another member state.
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Workforce development grants for employee training and local government incentives are excluded from the agreement restrictions.
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A national board composed of gubernatorial appointees from member states shall convene annually to recommend improvements and expansions to the agreement.
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The act takes effect once 2 or more states adopt the agreement, with any member state able to withdraw with 6 months' notice.
Legislative Description
An Act To Amend Title 29 Of The Delaware Code Relating To The Agreement To Phase-out Corporate Giveaways Act.
Last Action
Introduced and Assigned to Economic Development/Banking/Insurance & Commerce Committee in House
3/4/2021