CHAPTER 118 - EXEMPTION FROM TAXATION OF LANDS, BUILDINGS AND CHATTELS OF MOTION PICTURE STUDIOS AND PLANTS

AN ACT TO AMEND AN ACT ENTITLED "VALUATION AND ASSESSMENT OF PROPERTY," BEING CHAPTER 44 OF THE REVISED CODE I OF DELAWARE, 1935, BY EXEMPTING FROM TAXATION THE LANDS, BUILDINGS AND CHATTELS OF ALL MOTION PICTURE STUDIOS AND PLANTS FOR A PERIOD OF FIFTEEN YEARS.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:

Section 1. That, Chapter 44, Article 1, Code Section 1258, Section 1, of the Revised Code of Delaware, 1935, entitled "Valuation and Assessment of Property" be and the same is hereby amended by adding at the end of said Article 1, Code Section 1258, Section 1, a new and additional section as follows:

For a period of Fifteen years from the beginning of operation, motion picture studios and plants which shall be established in this State on or after July 1, 1937, including all lands, buildings and chattels, whether owned by a person, firm or corporation, utilized in connection therewith, and all raw materials going into the finished products of such studios and plants, as well as the finished products or films, shall be exempt from all ad valorem taxation. The exemption herein authorized shall not apply to real estate owned by such motion picture studios and plants except the real estate occupied as the location required to house such motion picture studios and plants and other buildings incidental to the operation of such studios and plants together with such lands as may be required for housing officers and employees, and for warehouses, laboratories, cutting rooms, projection rooms, storage, trackage, shipping facilities, sets and locations.

Section 2. All Acts or parts of Acts in conflict with the provisions of this Act are hereby repealed.

Approved April 19, 1937.