SB 87 — AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO THE REALTY TRANSFER TAX.

Summary

This Act is a substitute for Senate Bill No. 87. Like Senate Bill No. 87, this Act does the following: (1) Clarifies that the exemption from the realty transfer tax for conveyances to or from an organization exempt from tax under § 501(c)(3) of the federal Internal Revenue Code when the purpose of the conveyance is to provide owner-occupied housing to low and moderate income households applies to rehabilitating residential properties and reselling the properties without profit and to constructing residences on properties and reselling the properties without profit. (2) Exempts any portion of a conveyance in which it is the grantee’s intent to construct affordable housing units and the conveyances are financed using funding provided by the federal government, this State, or a county or municipality of this State for the purpose of constructing affordable housing units, defined as a residential dwelling for a household whose income does not exceed 80% of the median income for the area as defined by the United States Department of Housing and Urban Development. (3) Clarifies that individuals are first-time homebuyers if they intend to occupy the property being conveyed as their principal residence after the construction of a residence on the property to include circumstances where the residence cannot be built within 90 days after the property is purchased. (4) Corrects the first-time homebuyer definition related to individuals purchasing as joint tenants or cotenants to replace “none” with “neither” to conform the number of joint tenants or cotenants indicated by the indefinite pronoun to the number indicated by the use of “both” later in the sentence. (5) Makes technical corrections to conform existing law to the standards of the Delaware Legislative Drafting Manual. This Act differs from Senate Bill No. 87 by removing the exemption created by Senate Bill No. 87 for any portion of a conveyance financed through the federal Low Income Housing Tax Credit program.

Bill Text

• Bill Text View text Current pdf

Action History

1. August 22, 2023

   Signed by Governor

2. June 29, 2023

   Passed By House. Votes: 25 YES 16 ABSENT

3. June 29, 2023

   Amendment HA 1 to SS 1 - Stricken in House

4. June 16, 2023

   Amendment HA 1 to SS 1 - Introduced and Placed With Bill

5. June 06, 2023

   Reported Out of Committee (Revenue & Finance) in House with 4 Favorable, 5 On Its Merits

6. June 01, 2023

   Assigned to Revenue & Finance Committee in House

7. May 18, 2023

   Passed By Senate. Votes: 20 YES 1 ABSENT

8. May 17, 2023

   Adopted in lieu of the original bill SB 87, and Assigned to Finance Committee in Senate

Sponsors

• Stell Parker Selby · Primary
• Brian Pettyjohn · Primary
• Daniel B. Short · Primary
• David P. Sokola · Primary
• Nicole Poore · Primary
• Bryan Townsend · Primary
• Laura V. Sturgeon · Primary
• Bryant L. Richardson · Primary
• Marie Pinkney · Primary
• Kendra Johnson · Primary
• William Bush · Primary
• S. Elizabeth Lockman · Primary
• Russell Huxtable · Primary
• Paul S. Baumbach · Primary
• Sherry Dorsey Walker · Primary
• Sarah McBride · Primary
• Michael Ramone · Primary
• Peter C. Schwartzkopf · Primary

Votes

Subjects