CHAPTER 310

AN ACT TO AMEND CHAPTER 11, TITLE 30, DELAWARE CODE, RELATING TO INFORMATION RETURNS TO THE STATE TAX DEPARTMENT FROM THOSE MAKING CERTAIN PAYMENTS.

Be it enacted by the General Assembly of the State of Delaware:

Section 1. § 1166, Chapter 11, Title 30, Delaware Code, is hereby amended by striking out the word "interest" where it appears in the 4th line of the first paragraph thereof.

Section 2. § 1166, Chapter 11, Title 30, Delaware Code, is hereby further amended by striking out the 2nd unnumbered paragraph in its entirety and substituting the following in lieu thereof:

All corporations making payments to a Delaware taxable of dividends amounting to ten dollars ($10.00) or more in any taxable year shall render a true and accurate return to the Tax Department under such regulations and in such form and manner and to such extent as may be prescribed by the Tax Department, setting forth the amount of any and all such payments made and the names and addresses of the recipients of such payments.

Section 3. § 1166, Chapter 11, Title 30, Delaware Code, is hereby further amended by the addition of the following new unnumbered paragraph:

All persons, fiduciaries, associations of persons, syndicates, joint ventures, copartnerships or corporations in whatever capacity acting, including lessees and mortgagors of real or personal property making payment to a Delaware taxable of interest amounting to ten dollars ($10.00) or more in any taxable year shall render a true and accurate return to the Tax Department under such regulations and in such form and manner and to such extent as may be prescribed by the Tax Department setting forth the amount of any and all such payments made and

the names and addresses of the recipients of such payments; provided, however, that this section shall not apply to interest paid on evidences of indebtedness issued by a corporation otherwise than in registered form.

Section 4. This act shall be effective for all tax years beginning subsequent to December 31, 1965.

Approved March 9, 1966.