Small Business Reading Room

Friday, June 03, 2011

Delaware Corporate Legislation Tracker

After two weeks of budget mark-up recess, the General Assembly is back in session! The First Session of the 146th General Assembly will conclude on June 30 - though legislative work generally continues into the early hours of July 1.

Stay on top of proposed legislative changes to the DGCL and important issues related to business in Delaware. The Delaware Corporate Legislation Tracker is a free service, designed to keep you informed on current and pending legislation related to Delaware Corporate rules and regulations. Here's what's been happening this past week:

The following Legislation affecting Title 6 - Commerce and Trade, Title 8 - Corporations, Title 12 - Corporations, and Title 29 - State Government was acted upon by the General Assembly on 6/2/2011:

HB 156
Title: AN ACT TO AMEND TITLE 6, TITLE 8, TITLE 12, AND TITLE 29 OF THE DELAWARE CODE RELATING TO VARIOUS FEES AND TAXES CHARGED BY THE SECRETARY OF STATE.

Synopsis:

This bill returns most fees and taxes charged by the Secretary of State to their pre December 31, 2009 rates.

Bill History:

Jun 02, 2011 - Introduced and Assigned to Revenue & Finance Committee in House

The following Legislation affecting Title 19 - Labor was acted upon by the General Assembly on 6/2/2011:

SB 100
Title: AN ACT TO AMEND TITLE 19 BY REPEALING THE CORPORATE INCOME TAX.

Synopsis:

To encourage and promote businesses to operate in Delaware and to generate jobs, this Bill repeals the Delaware Corporate Income Tax. The effective date shall be on the second January 1st after enactment.

Bill History:

Jun 02, 2011 - Assigned to Finance Committee in Senate

The following Legislation affecting Title 7 - Conservation, and Title 30 - State Taxes was acted upon by the General Assembly on 6/2/2011:

HB 148
Title: AN ACT TO AMEND TITLE 7 AND TITLE 30 OF THE DELAWARE CODE RELATING TO GROSS RECEIPTS TAX.

Synopsis:

This bill returns certain business and occupational gross receipt tax rates to their pre December 31, 2009 rates.

Bill History:

Jun 02, 2011 - Amendment HA 1 - Introduced and Placed With Bill
May 31, 2011 - Introduced and Assigned to Revenue & Finance Committee in House

The following Legislation affecting Title 5 - Banking was acted upon by the General Assembly on 5/31/2011:

SB 91
Title: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO THE BANK FRANCHISE TAX.

Synopsis:
In an effort to encourage job creation and economic investment in Delaware, this Act amends the Delaware Bank Franchise Tax. This Act increases the incentive for major financial institutions to locate their charters and operations in Delaware by lowering the location benefit tax paid by banks that elect into the alternative bank franchise tax. This Act encourages job creation and retention by creating a 10-year tax credit for banking organizations that add 200 or more jobs after 2011

Bill History:

May 31, 2011 - Assigned to Banking Committee in Senate

The following Legislation affecting Title 6 - Commerce and Trade was acted upon by the General Assembly on 6/2/2011:

SB 95
Title: AN ACT TO AMEND CHAPTER 17, TITLE 6 OF THE DELAWARE CODE RELATING TO THE CREATION, REGULATION, OPERATION AND DISSOLUTION OF DOMESTIC LIMITED PARTNERSHIPS AND THE REGISTRATION AND REGULATION OF FOREIGN LIMITED PARTNERSHIPS.

Synopsis:
This bill continues the practice of amending periodically the Delaware Revised Uniform Limited Partnership Act (the "Act") to keep it current and to maintain its national preeminence.

Bill History:

Jun 02, 2011 - Passed by Senate.
Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
Jun 01, 2011 - Reported Out of Committee (JUDICIARY) in Senate with 4 On Its Merits
May 31, 2011 - Assigned to Judiciary Committee in Senate

The following Legislation affecting Title 6 - Commerce and Trade was acted upon by the General Assembly on 6/2/2011:

SB 75
Title: AN ACT TO AMEND CHAPTER 17, TITLE 6 OF THE DELAWARE CODE RELATING TO THE CREATION, REGULATION, OPERATION AND DISSOLUTION OF DOMESTIC PARTNERSHIPS AND THE REGISTRATION AND REGULATION OF FOREIGN LIMITED PARTNERSHIPS.

Synopsis:
This bill continues the practice of amending periodically the Delaware Revised Uniform Limited Partnership Act (the "Act") to keep it current and to maintain its national preeminence.

Bill History:

Jun 01, 2011 - Stricken
May 05, 2011 - Assigned to Judiciary Committee in Senate

The following Legislation affecting Title 6 - Commerce and Trade was acted upon by the General Assembly on 6/2/2011:

SB 74
Title: AN ACT TO AMEND CHAPTER 15, TITLE 6 OF THE DELAWARE CODE RELATING TO THE CREATION, REGULATION, OPERATION AND DISSOLUTION OF DOMESTIC PARTNERSHIPS AND THE REGISTRATION AND REGULATION OF FOREIGN LIMITED LIABILITY PARTNERSHIPS

Synopsis:
This bill continues the practice of amending periodically the Delaware Revised Uniform Limited Partnership Act (the "Act") to keep it current and to maintain its national preeminence.

Bill History:

Jun 02, 2011 - Passed by Senate.
Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
Jun 01, 2011 - Reported Out of Committee (JUDICIARY) in Senate with 4 On Its Merits
May 05, 2011 - Assigned to Judiciary Committee in Senate

The following Legislation affecting Title 8 - Corporations was acted upon by the General Assembly on 6/2/2011:

SB 74
Title: AN ACT TO AMEND TITLE 8 OF THE DELAWARE CODE RELATING TO THE GENERAL CORPORATION LAW.

Synopsis:
This bill give the Division of Corporations the discretion to waive the requirement that a corporation’s name contain certain words or abbreviations thereof (such as “incorporated”), if the corporation is both a nonprofit nonstock corporation and an association of professionals. It also amends several other sections of the DGCL.

Bill History:

Jun 02, 2011 - Passed by Senate.
Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
Jun 01, 2011 - Reported Out of Committee (JUDICIARY) in Senate with 4 On Its Merits
May 05, 2011 - Assigned to Judiciary Committee in Senate

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Delaware Corporate Legislation Tracker

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