DE SB72

Creates an itemized tax deduction for resident individuals who are active members of a labor organization, allowing a deduction up to $500 annually for the cost to maintain membership, effective for tax years beginning January 1, 2024.

Prohibits the deduction if an individual has already taken a deduction on their federal income tax return for any cost to maintain membership in a labor organization.

Excludes from the deduction any payments made to or through a labor organization for employee benefits, pension contributions, other compensation, lobbying, political expenditures, or government settlement and investigatory costs.

Implements this deduction in response to the 2017 federal Tax Cuts and Jobs Act suspending the federal itemized deduction for labor organization membership costs until January 1, 2026.

Makes technical corrections to Delaware tax code language to conform to the Delaware Legislative Drafting Manual standards.