CHAPTER 511

FORMERLY

HOUSE BILL NO. 703

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND CHAPTER 96, TITLE 9 OF THE DELAWAE CODE TO ASSESS A DOCUMENTARY SURCHARGE FOR THE BENEFIT OF THE HOUSING DEVELOPMENT FUND.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Three fifths of all members elected to each House thereof concurring therein):

Section 1. Amend Section 9607, Title 9 of the Delaware Code by designating the existing section as subsection "(a)" and adding thereto new subsections "(br and "(c)" to read as follows:

"(b) The Recorder of Deeds in each County shall collect, for each document or paper recorded or filed, a surcharge of three dollars ($3.00).

(c) Not later than the 20th day of each month, each Recorder of Deeds shall remit to the State Treasurer ninety five percent (95%) of the amount of the surcharge collected under subsection (b) of this section. The State Treasurer shall deposit such funds into the Housing Development Fund established under Subchapter V, Chapter 40 of Title 31 of this Code. Each Recorder of Deeds shall retain five percent (5%) of the amount of the surcharge as compensation for the expenses of the Recorder of Deeds in collecting and remitting the surcharge provided in subsection (b)."

Section 2. This Act shall become effective 45 days after its enactment into law.

Approved July 9, 1986