CHAPTER 267

FORMERLY

HOUSE BILL NO. 465

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND SECTIONS 1133, 1902 AND 2031 OF TITLE 30 OF THE DELAWARE CODE RELATING TO REAL ESTATE MORTGAGE INVESTMENT CONDUITS.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section I. Amend Section 1133, Title 30 of the Delaware Code by adding thereto a new subsection (c) as follows:

"(c) An entity that Is a real estate mortgage Investment conduit (as defined in

Section 860D of the Internal Revenue Code of 1986, as amended) shall not be subject to ta. under this Chapter."

Section 2. Amended subsection (b), Section 1902, Title 30 of the Delaware Code by

adding thereto a new paragraph (14) as follows:

"(14) An entity that Is a real estate mortgage Investment conduit as defined In Section 860D of the Internal Revenue Code of 1986, as amended."

Section 3 Amend Section 2301, Title 30 of the Delaware Code by adding a new subsection (5) as follows

"(s) real estate mortgage Investment conduits (as defined In Section 860D of the

Internal Revenue Code of 1986, as amended), are exempt from payment of fees as set forth In subsections (b) and (d) of this section."