CHAPTER 168

FORMERLY

HOUSE BILL NO. 469

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND CHAPTER 54, TITLE 30, DELAWARE CODE, RELATING TO EXEMPTIONS FROM THE REALTY TRANSFER TAX.

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

Section 1. Amend §5401 (a), Chapter 54, Title 30, Delaware Code, by striking paragraph 14 in its entirety and substituting in lieu thereof a new paragraph 14 to read as follows:

(14) Any conveyance to or from a corporation, or a partnership, where the grantor or grantee owns stock of the corporation, or an interest in the partnership in the same proportion as his interest in, or ownership of, the real estate being conveyed. Provided, however, that this paragraph shall not apply to any distribution in liquidation or other conveyance resulting from the liquidation of a corporation unless the stock of the corporation being liquidated has been held by the grantor or grantee for more than three years;.

Section 2. Amend §5401 (a), Chapter 54, Title 30, Delaware Code, by striking the period at the end of subparagraph (17) and substituting in lieu thereof the following:

; provided, however, that only that portion of the tax which is attributable to and payable by the religious organization or other body or person holding title to real estate for a religious organization under Section 5402 of this chapter shall be exempt.

Approved July 10, 1973.