HOUSE BILL NO. 125
AS AMENDED BY SENATE AMENDMENT NO. I
AN ACT TO AMEND CHAPTER 7, TITLE 1B, DELAWARE CODE, REGARDING FEES AND TAXES. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Title 1B, Delaware Code, Chapter 7, Section 703(c) by adding a paragraph to the end thereof:
"(ii) Notwithstanding the above, any insurer which writes 50 percent or more of its total premium on property or persons residing within the State of Delaware shall be exempt from application and payment of the privilege tax."
Section 2. This Amendment shall be effective as of January 1, 1993.
Approved July 14, 1993.