Bill Text: DE SB125 | 2009-2010 | 145th General Assembly | Draft
Bill Title: An Act Proposing An Amendment To Article Ii Of The Delaware Constitution Relating To The General Assembly.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2009-06-04 - Assigned to Executive Committee in Senate [SB125 Detail]
Download: Delaware-2009-SB125-Draft.html
SPONSOR: |
Sen. McDowell & Rep. Brady |
|
Sens. Bushweller, Ennis, Hall-Long, Simpson & Sorenson, Reps. Heffernan, D.P. Williams & D.E. Williams |
DELAWARE STATE SENATE 146th GENERAL ASSEMBLY |
SENATE BILL NO. 125 |
AN ACT TO AMEND CHAPTER 80, TITLE 29 OF THE DELAWARE CODE RELATING TO THE TAXATION OF INTEREST ON BONDS AND NOTES ISSUED BY THE SUSTAINABLE ENERGY UTILITY. |
Section 1.Amend §8059(j)(2), Title 29 of the Delaware Code by adding to said paragraph a new subparagraph "g." to read as follows:
"g.Interest on bonds or notes issued under this section shall be exempt from income taxation by this State or any political subdivision thereof."
SYNOPSIS
This Act establishes a State income tax exemption for interest earned on bonds and notes issued by the Sustainable Energy Utility. |
Author:Senator McDowell