CHAPTER 279

FORMERLY

HOUSE BILL NO. 773

AN ACT TO AMEND TITLE 5, CHAPTER 11 OF THE DELAWARE CODE RELATING TO BANK FRANCHISE TAX.

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 §1104(b), Title 5 of the Delaware Code by deleting the phrase "25 percent of the estimated tax liability on June 1, September 1 and December 1" as it appears therein and substituting therein the phrase "40 percent of the estimated tax liability on June 1, 20 percent on September 1, and 20 percent on December 1".

Approved July 2, 1990.