Friday, April 04, 2014
Are you on top of what is happening this week in Delaware Law?
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 Delaware Title 6 - Commerce and Trade and Title 8 - Corporations was acted upon by the General Assembly on 4/03/2014:
Title: AN ACT TO AMEND TITLE 6 AND TITLE 8 OF THE DELAWARE CODE RELATING TO VARIOUS FEES AND TAXES CHARGED BY THE SECRETARY OF STATE.
This Act increases the annual tax assessed on partnerships, limited partnerships and limited liability companies on file with the Secretary of State from $250 to $300 and increases the corporation franchise tax by $100 for those corporations that file on the authorized shares method.
Apr 03, 2014 - Assigned to Executive Committee in Senate
Apr 03, 2014 - Passed by House of Representatives. Votes: Passed 26 YES 13 NO 0 NOT VOTING 2 ABSENT 0 VACANT
Apr 03, 2014 - Amendment HA 4 - Defeated by House of Representatives. Votes: Defeated 13 YES 26 NO 0 NOT VOTING 2 ABSENT 0 VACANT
Apr 03, 2014 - Amendment HA 4 defeated
Apr 03, 2014 - Amendment HA 4 - Introduced in House
Apr 03, 2014 - Amendment HA 3 - Passed in House by Voice Vote
Apr 03, 2014 - Amendment HA 2 - Defeated by House of Representatives. Votes: Defeated 13 YES 26 NO 0 NOT VOTING 2 ABSENT 0 VACANT
Apr 03, 2014 - Amendment HA 2 defeated
Apr 03, 2014 - Amendment HA 1 - Passed in House by Voice Vote
Apr 03, 2014 - Amendment HA 3 - Introduced and Placed With Bill
Apr 01, 2014 - Amendment HA 2 - Introduced and Placed With Bill
Mar 25, 2014 - Amendment HA 1 - Introduced and Placed With Bill
Mar 19, 2014 - Reported Out of Committee (HOUSE ADMINISTRATION) in House with 2 On Its Merits, 1 Unfavorable
Mar 18, 2014 - Introduced and Assigned to House Administration Committee in House
The following Legislation affecting Delaware Title 15 - Elections was acted upon by the General Assembly on 4/03/2014:
Title: AN ACT TO AMEND TITLE 15 OF THE DELAWARE CODE RELATING TO CONTRIBUTIONS BY ENTITIES TO POLITICAL COMMITTEES.
This bill requires entities contribute more than $100 to a political committees during an election cycle to disclose the name and address of a “responsible party”—that is, someone who shares or exercises direction or control over the entity’s activities. In so doing, this bill provides voters with additional information about where political money comes from, so they can better decide how to cast their votes. In addition, to help political committees and contributors accurately interpret and apply the law relating to the attribution of entity contributions, this bill requires the Elections Commissioner to adopt a uniform summary of the law in this area, with illustrative examples of how the law applies in specific cases. The Elections Commissioner is required to post the summary on its web site, and political committees are required to provide the summary to entity contributors at the request of such contributors.
Apr 03, 2014 - Assigned to Administrative Services/Elections Committee in Senate
The following Legislation affecting Delaware Title 29 - State Government was acted upon by the General Assembly on 4/01/2014:
Title: AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO THE PREVAILING WAGE.
This bill establishes a set prevailing wage rate and eliminates the need for a survey based upon certain requirements.
Apr 01, 2014 - Introduced and Assigned to House Administration Committee in House
Thursday, April 03, 2014
SBA and AARP Host Second Encore Entrepreneur Mentor Month in April with Events around the Country
U.S. Small Business Administration and AARP are again teaming up for
National Encore Entrepreneur Mentor
Month. Building on the success of 2013’s Mentor Month, the two
organizations will match “encore entrepreneurs” (over the age of 50)
with successful business owners and community leaders for advice and
assistance. Find local events at
district offices, state AARP offices and SBA resource partners host
events around the country throughout April, including speed mentoring
where experienced small business mentors and
entrepreneurs share information in one-on-one counseling sessions and
workshops. Mentors come from SBA’s network of Small Business
Development Centers, Women’s Business Centers, and SCORE chapters who
help throughout the life cycle of an entrepreneur’s business.
SBA is working hard to increase opportunities for small businesses of
the baby boomer generation and we believe 50-plus entrepreneurs will
drive significant new business growth in
the coming years,” said Tameka Montgomery, SBA Associate Administrator
for Entrepreneurial Development. “SBA is pleased to continue our
partnership with AARP, uniting our efforts on Encore Entrepreneurship
Mentor Month to help entrepreneurs transform their
dreams into a successful reality.”
that many older Americans pursue entrepreneurship as a way to generate
income and strengthen financial security,” said Debbie Banda, AARP
interim Vice President, Financial Security. “And for
many of these workers, it is also a way to turn a hobby or passion into
a paycheck. AARP creates real possibilities by connecting experienced
workers with the resources and guidance they need to help start or grow a
small business,” Banda added.
entrepreneurs” are the fastest-growing group of entrepreneurs in the
United States. A 2010 survey by the Kauffman Foundation found that
Americans age 55 to 64 start
new business ventures at a higher rate than any other age group,
SBA has free online courses targeted at helping encore entrepreneurs start or grow their businesses. Go online to
www.sba.gov/encore to access the online training and other resources available for entrepreneurs over the age of 50.
and AARP are also hosting two webinars in April to help current and
potential entrepreneurs. For more information, and to register, visit
Small Businesses Access to 7(a) and 504 Loan Programs is Getting Better
U.S. small businesses will gain improved access to two major government-guaranteed loan programs once a final rule to that effect issued by the U.S. Small Business Administration becomes effective April 21, 2014.
The SBA recently published a Final Rule on the Federal Register that eliminates or revises several requirements for its two main loan programs, 7(a) and 504. The rule expands eligibility, makes it easier for small businesses to secure SBA-backed financing, and encourages job creation.
“These 504 and 7(a) program enhancements will expand program eligibility and improve access to capital for small businesses. Improvements in CDC corporate governance oversight enhance program integrity and encourages more local involvement,” said Ann Marie Mehlum, SBA Associate Administrator for the Office of Capital Access.
“One of the biggest challenges small businesses face is access to capital, added SBA mid-Atlantic Regional Administrator Natalia Olson-Urtecho. “Lowering loan barriers encourages entrepreneurs to start and grow businesses in their communities and strengthen our economy.”
The changes include, but are not limited to:
- Elimination of the personal resource test which benefits borrowers by adding flexibility in the management of their allocation of personal resources to the small business;
- Elimination of the nine-month rule for 504 eligible project expenses which allows businesses a longer timeframe in which to organize and initiate their small business project;
- Revised 504 loan program collateral requirements to allow Third Party Lender to take collateral in addition to Project collateral under certain conditions; and
- Enhanced CDC corporate governance requirements to ensure more board accountability and to reduce risks to the SBA portfolio.
Full text of the Final Rule as published on the Federal Register (PDF)
Monday, March 31, 2014
One Day In Pompeii
is a traveling exhibit which is calling the Franklin Institute in
Philadelphia, PA home until April 27.
This exhibit, which features approximately 150 artifacts, videos and 2
mini movies, presents a rare opportunity to glimpse the daily life and tragic
demise of the Pompeian people dating back to 79 AD.
Adult tickets which include general admission and the
Pompeii exhibit are $27.50.
3-11 are admitted for $21.50, although I’d recommend leaving small children in
the care of a sitter as they will be bored by the material and overwhelmed by the
crowds. Ring of Fire
truly breath taking 40 minute IMAX presentation regarding volcanic eruptions
and earthquakes is a nice compliment to the experience for an additional $6.00
Get there at opening to avoid a human stampede and for a
better chance of parking in the garage which is to the rear of the building. Enjoy!