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DE SB65
Bill
Status
3/23/2023
Primary Sponsor
Eric Buckson
Click for details
AI Summary
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Adds workforce and affordable housing programs to the list of eligible expenditures for county real estate transfer tax revenues in Delaware.
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Allows New Castle, Kent, and Sussex Counties to use transfer tax proceeds for workforce development and affordable housing initiatives, in addition to existing eligible uses such as public safety, economic development, public works, infrastructure, and land preservation.
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Maintains the existing requirement that county real estate transfer tax revenues be segregated from the general fund and used only for specified capital, operating, and program costs.
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Does not modify the county tax rate cap of 1½ percent of property value or the existing exemption for first-time home buyers up to $400,000.
Legislative Description
An Act To Amend Title 10 Of The Delaware Code Relating To Expenditure Of Real Estate Transfer Tax Proceeds.
Last Action
Stricken in Senate
6/6/2023