CHAPTER 408

FORMERLY

SENATE BILL NO. 384

AS AMENDED BY SENATE AMENDMENT NO. 1

AN ACT TO AMEND CHAPTERS 11, 14, 19, AND 23 OF TITLE 30 OF THE DELAWARE CODE RELATING TO VARIOUS REFERENCES TO THE FEDERAL INTERNAL REVENUE CODE.

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

Section 1. Amend §1101, Chapter 11, Title 30 of the Delaware Code by striking the year "1954" as it appears in said Section and substitute in lieu thereof the year"1986".

Section 2. Amend §1106(a), Chapter 11, Title 30 of the Delaware Code by striking the year "1954" as it appears in paragraph (2) of said subsection and substitute in lieu thereof the year "1986".

Section 3. Amend §1901(5), Chapter 19, Title 30 of the Delaware Code by striking the phrase '1954 (Title 26, U.S.C.A. 1954, Chapter 1) as in force on February 5, 1958 or as it may thereafter be amended from time to time wherever it appears in said subsection and substitute in lieu thereof the phrase '1986 and amendments thereto'.

Section 4. Amend §1902(b). Chapter 19, Title 30 of the Delaware Code by striking the figure "1971" as it appears in paragraph (9) and substitute in lieu thereof the figure "1961"

Section 5. Amend §1902(b), Chapter 19, Title 30 of the Delaware Code by striking the year "1954" as it appears in paragraphs (9) and (12) of said subsection and substitute in lieu thereof the year "1986".

Section 6. Amend 0401, Chapter 14, Title 30 of the Delaware Code by striking the phrase "increased by the amount of the federal specific exemption (as defined in §2521, Internal Revenue Code of 1954 [26 U.S.C. §25212 or such similar subsequent tax legislation) claimed in computing taxable gifts for federal gift tax purposes" as it appears in subsection (1) of said Section.

Section 7. Amend Section 2301(p), Chapter 23, Title 30 of the Delaware Code by striking the year "1954" as it appears therein and substitute in lieu thereof the year "1986".

Section 8. Amend Section 2301(o), Chapter 23, Title 30 of the Delaware Code by striking the year "1954" as it appears therein and substitute in lieu thereof the year "1986".

Section 9. Sections 4 and 6 shall be effective upon enactment. The effectiveness of all other sections shall coincide with the effectiveness of respective provisions of the Federal Internal Revenue Code.

Approved July 18, 1990.