CHAPTER 385

FORMERLY

HOUSE BILL NO. 437

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND TITLE 9, CHAPTER 81, SECTION 8103 OF THE DELAWARE CODE, AS AMENDED, BY STRIKING CORPORATIONS CREATED FOR CHARITABLE PURPOSES FROM EXEMPTION FROM MUNICIPAL REAL PROPERTY TAXATION.

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

Section 1. Amend Title 9, Chapter 81, Section 8103 of the Delaware Code, by striking

the following phrase as it appears therein: "or any corporation created for charitable purposes and not held by way of Investment".

Section 2. Amend Title 9, Chapter 81, §8103 of the Delaware Code, by adding a new sentence to the end of said section to read as follows:

"Corporations created for charitable purposes and not held by way of investment that are in existence at the time of the effective date of this Act, together with existing and future charitable affiliates of such corporations that are also not held by way of investment, shall not be liable to taxation and assessment for public purposes by any county, municipality, or other political subdivision of this State."

Approved July 14, 1988