CHAPTER 454

FORMERLY

SENATE BILL NO. 482

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 §1 102(a), Title 30 of the Delaware Code. by adding to said subsection a new paragraph (7) to read as follows:

"(7) For taxable years beginning after December 31. 1996, the amount of tax shall be determined as follows: 3.1% of taxable income in excess of $2,000 but not in excess of $5,000; 4.85% of taxable income in excess of $5,000 but not in excess of $10,000; 5.8% of taxable income in excess of $10,000 but not in excess of $20,000; 6.15% of taxable income in excess of $20,000 but not in excess of $25,000; 6.45% of taxable income in excess of $25,000 but not in excess of $30,000; 7.1% of taxable income in excess of $30.000."

Section 2. Amend §1102(a)(6), Title 30 of the Delaware Code by striking the year "1995," as it appears therein and substituting in lieu thereof the phrase "1995, and before January 1, 1997".

Section 3. Amend § 1102(d)(1). Title 30 of the Delaware Code, by striking the symbol and figure "$40,000" as they appear therein and substituting in lieu thereof the symbol and figure "$60,000".



Section 4. Sections 1 and 2 of this Act shall be effective for tax years beginning after December 31, 1996.

Approved July 8, 1996