DE HB255

Allows corporations to continue expensing domestic research and experimental expenditures under pre-2021 federal tax rules for expenditures made between December 31, 2021, and December 31, 2024, rather than under changes enacted in P.L. 119-21

Permits continued amortization and depreciation under prior federal tax code provisions for property acquired and placed in service between January 19, 2025, and January 1, 2031, that would otherwise qualify for expensing under P.L. 119-21

Extends prior depreciation treatment for qualified production property placed in service before January 1, 2031, rejecting new federal rules under P.L. 119-21

Applies similar personal income tax modifications for property acquired between December 31, 2025, and January 1, 2031, effective January 1, 2026

Requires the Department of Finance to present a report at the December 2027 Delaware Economic and Financial Advisory Council meeting on the revenue impact and recommendations for continuing the bonus depreciation provisions