CHAPTER 584

FORMERLY HOUSE BILL NO. 928

AS AMENDED BY

HOUSE AMENDMENTS NO. 1 AND 2

AN ACT TO AMEND SUBCHAPTER VIII OF CHAPTER 5, TITLE 4, DELAWARE CODE, BY DECREASING THE RATE OF TAXATION ON WINE, AND BY PROVIDING FOR A TAX REDUCTION ON THE FLOOR STOCK AND INVENTORY COMMENSURATE WITH THE DECREASE IN RATE OF TAXATION.

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

Section 1. Amend Section 581 (a) (2) of Chapter 5, Title 4, Delaware Code, by striking the figure "80" as the same appears therein and substituting in lieu thereof the figure "40".

Section 2. On the effective date of this Act, the tax on the floor stock and inventory of wine as defined in 4 Delaware Code § 101 is hereby decreased at a rate commensurate with the decrease in the rate of taxation prescribed in Section 581 (a) (2) of this Act, and the amount of such decrease shall be credited or refunded to such licensees in accordance with regulations to be adopted by the Delaware Alcoholic Beverage Control Commission.

Section 3. The retail price of wine sold by the bottle for off-premises consumption shall be decreased by $.75 per gallon on the effective date of this Act.

Section 4. This Act shall take effect on October 1, 1972.

Approved July 25, 1972.