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Friday, March 15, 2013

The Delaware Corporate Legislation Tracker - March 15, 2013

Stay on top of changes to the DGCL and the Delaware Code with the Delaware Corporate Legislation Tracker!

The Delaware Corporate Legislation Tracker is a free service offered by our firm, designed to keep you informed on current and pending legislation related to Delaware Corporate rules, regulations, and Delaware business matters.

Here's the latest edition:

The following Legislation affecting Title 6 - Commerce and Trade was acted upon by the General Assembly on 3/12/2013:

HB 8 w/HA 1
Title: AN ACT TO AMEND TITLE 6 OF THE DELAWARE CODE RELATING TO THE UNIFORM COMMERCIAL CODE.

Synopsis:

It is the purpose of this Act to amend Article 9 of the Delaware Uniform Commercial Code dealing with secured transactions. The revisions to Article 9 are part of a national effort led by the National Conference of Commissioners on Uniform State Laws and The American Law Institute that seeks adoption of revisions in substantially the form proposed by all applicable states within, or other jurisdictions under the control of, the United States.

Bill History:

Mar 12, 2013 - Passed by House of Representatives.
Votes: Passed 40 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
Mar 12, 2013 - Amendment HA 1 - Passed in House by Voice Vote
Mar 07, 2013 - Amendment HA 1 - Introduced and Placed With Bill
Jan 16, 2013 - Reported Out of Committee (JUDICIARY) in House with 8 Favorable, 2 On Its Merits
Jan 15, 2013 - Introduced and Assigned to Judiciary Committee in House

The following Legislation affecting AN ACT TO AMEND CHAPTER 78, VOLUME 77 OF THE LAWS OF DELAWARE was acted upon by the General Assembly on 3/14/2013:

HB 52
Title: AN ACT TO AMEND CHAPTER 78, VOLUME 77 OF THE LAWS OF DELAWARE RELATING TO CORPORATION FRANCHISE TAXES.

Synopsis:

This bill removes the sunset provision in 77 Del. Laws, c. 78 relating to the corporation franchise tax. The bill keeps in place the following current corporation franchise tax rates: the maximum franchise tax of $180,000, the assumed par value multiplier of $350, and the minimum assumed par value tax of $350.

Bill History:

Mar 14, 2013 - Introduced in House and assigned to Revenue & Finance Committee
Mar 14, 2013 - Assigned to Revenue & Finance Committee in House

The following Legislation affecting Title 30 - State Taxes was acted upon by the General Assembly on 3/14/2013:

HB 53
Title: AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO GROSS RECEIPTS TAXES.

Synopsis:

This Act establishes for all gross receipts business categories other than manufacturers tax rates in 2014 that are one percent below the rates in effect in 2013. This Act reduces by 30% manufacturers’ tax rates in 2014.

Bill History:

Mar 14, 2013 - Introduced in House and assigned to Revenue & Finance Committee
Mar 14, 2013 - Assigned to Revenue & Finance Committee in House

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Small Business Reading Room

The Delaware Corporate Legislation Tracker - March 15, 2013

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