AN ACT TO AMEND TITLE 30, CHAPTER 19, ENTITLED "CORPORATION INCOME TAX" BY PROVIDING FOR REFUNDS.
Be it enacted by the General Assembly of the State of Delaware:
Section. 1. § 1912, Title 30, Delaware Code, is hereby amended by adding subsection (e) to read as follows:
(e) The Tax Department shall retain out of the revenue collected by it a sum sufficient to provide when needed a fund of $20,000 out of which it shall pay any refunds provided for in this chapter. The fund shall be deposited in the financial institution which is the legal depository of State monies to the credit of the State Tax Department and shall be disbursable on order of the Tax Commissioner.
Approved April 6, 1960.