CHAPTER 116

FORMERLY

SENATE BILL NO. 267

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO PERSONAL INCOME TAX.

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

Section 1. Amend §1110, Title 30 of the Delaware Code, by striking such

section in its entirety and substitute in lieu thereof a new §1110 to read as follows:

"§1110. Personal Exemptions and Credits.

(a) For tax years ending before January I, 1996, a resident shall be allowed an exemption of $1,250 for each exemption to which he is entitled for the taxable year for federal income tax purposes. Resident persons age 60 or over shall be allowed one additional personal exemption.

(b) For tax years beginning after December 31, 1995, resident individuals shall be allowed a personal credit against the individual's tax otherwise due under this chapter in the amount of:

(1) $100 for each personal exemption to which such individual is entitled for the taxable year for federal income tax purposes; plus

(2) An additional $100 in the case of each resident person age 60 or over.

(e) In no event shall the credit allowed under subsection (b) of this section exceed the tax otherwise due under this chapter."

Section 2. It is declared to be the legislative intent that, with regard to this

Act, if any section, subsection, sentence, clause, or provision of this Act is held invalid, the remainder of this Act shall be invalid.

Section 3. This Act shall be effective for tax years beginning after December

31, 1995.

Approved July I, 1995