Delaware House Bill 405 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on June 27 2012 - 25% progression, died in committee
Action: 2012-06-27 - Introduced and Assigned to Revenue & Finance Committee in House
Pending: House Revenue & Finance Committee
Text: Latest bill text (Draft #1) [HTML]

This Act shall be known as the “Delaware Age 55+ Volunteer Program Act.” It provides incentives for those buying Age 55+ Homes to donate their time and talent to Delaware charities and non-profit organizations. Provided an individual donates at least 52 hours of service to participating non-profits, the individual shall be entitled to a tax credit in the amount of 2% of the purchase price of their home, up to a maximum of $8,000. For an individual purchasing a $200,000 home, this would equate to a potential tax credit of $2,000. The program shall be available to all those who purchase homes beginning January 1, 2013 through December 31, 2015. It shall provide the opportunity for the annual tax credit through the tax year 2020. Because the incentive is being placed in the chapter of the code dealing with personal income tax, it only applies to individuals and not to corporations, limited liability companies, or other entities. The program is designed not only to be an incentive for home sales, but also to take advantage of the skills and experiences of older Delaware residents and to encourage them to donate time to participating non-profits.

An Act To Amend Title 30 Relating To The Personal Income Tax And Age 55+ Housing.

Sen. Robert Marshall [D]

Rep. Michael Mulrooney [D]

Date	Chamber	Action
2012-06-27		Introduced and Assigned to Revenue & Finance Committee in House

Type	Source
Summary	http://legis.delaware.gov/LIS/lis146.nsf/2bede841c6272c888025698400433a04/be15205bc32c6c3085257a1d006d0ff8?OpenDocument
Text	http://legis.delaware.gov/LIS/lis146.nsf/vwLegislation/HB+405/$file/legis.html?open