CHAPTER 738

AN ACT TO AMEND CHAPTER 11, TITLE 30, DELAWARE CODE, RELATING TO EXCLUSIONS FROM INCOME.

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

Section 1. Amend Title 30, Section 1116, by adding a new paragraph (17) as follows:

Section (17) Amounts received after retirement from regular gainful employment, not specifically excluded by other paragraphs of this section, limited as follows:

(a) This exclusion shall be limited to $1,000 for the taxable year ending December 31, 1970, and shall be limited to $2,000 for the taxable year ending December 31, 1971.

(b) This exclusion shall be allowed only to retired taxables over 60 years of age or to taxables regardless of age who are totally and permanently disabled and unable to be gainfully employed, except that in either case casual employment earnings not to exceed $2,000 during any taxable year shall not be construed as being gainfully employed.

(c) This exclusion shall not be allowed to any taxable for any taxable year during which the taxable's gross income exceeds $10,000.

Section 2. Commencing with taxable years ending December 31, 1972, paragraphs (13) and (17) of Section 1116, Title 30, shall be stricken in their entirety and a new paragraph (13) shall be inserted in lieu thereof as follows:

Section (13) Amounts received after retirement from regular gainful employment, not specifically excluded by other paragraphs of this section, limited as follows:

(a) This exclusion shall be limited to $2,000.

(b) This exclusion shall be allowed only to retired taxables over 60 years of age or to taxables regardless of age who are totally and permanently disabled and unable to be gainfully employed, except that in either case casual employment earnings not to exceed $2,000 during any taxable year shall not be construed as being gainfully employed.

(c) This exclusion shall not be allowed to any taxable for any taxable year during which the taxable's gross income exceeds $10,000.

Approved July 22, 1970.