CHAPTER 385

FORMERLY

SENATE BILL NO. 346

AN ACT TO AMEND TITLES 3 AND 30 OF THE DELAWARE CODE RELATING TO REFERENCES TO GIFT TAXES.

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

Section 1. Amend § 918, Title 3 of the Delaware Code, by striking the phrase "by gill otherwise subject to gill taxation under Chapter 14 of Title 30, and" as it appears in said section.

Section 2. Amend § 376(a)( I la. and b., Title 30 of the Delaware Code, by striking the phrase "income, estate, inheritance or gift tax" as it appears in said subparagraphs and substituting in each instance in lieu thereof the phrase "income, estate or inheritance tax".

Section 3. Amend § 501, Title 30 of the Delaware Code, by striking the number and punctuation "14," as it appears therein.

Section 4. Amend § 511(d), Title 30 of the Delaware Code, by striking said subsection in its entirety and re-designating the remaining subsections of said section accordingly.

Section 5. Amend § 514, Title 30 of the Delaware Code, by striking the phrase "income. estate or gift" as it appears therein and substituting in lieu thereof the phrase "income or estate".

Section 6. Amend § 529(a)( 1)a. and b., Title 30 of the Delaware Code, by striking the phrase "income, estate, inheritance or gill tax" as it appears in said subparagraphs and substituting in each instance in lieu thereof the phrase "income, estate or inheritance tax".

Section 7. Amend § 531(d), Title 30 of the Delaware Code, by striking the phrase "income, gift" as it appears in said subsection and substituting in lieu thereof the word "income".

Section 8. Amend § 531(e), Title 30 of the Delaware Code, by striking the phrase "income, gill" as it appears in said subsection and substituting in lieu thereof the word "income".

Section 9. Amend § 536(b), Title 30 of the Delaware Code, by striking the phrase "Chapter 13, Chapter 14, or Chapter 15" as it appears in paragraph (4) of said subsection and substituting in lieu thereof the phrase "Chapter 13 or Chapter 15".

Section 10. Amend § 539(d), Title 30 of the Delaware Code, by striking the phrase "income, estate or gift" as it appears therein and substituting in lieu thereof the phrase "income or estate".

Section 11. Amend § 1306(a) and (b), Title 30 of the Delaware Code, by striking the phrase "1401 of this title" wherever it appears in said subsections and substituting in each instance in lieu thereof the phrase "2503 of the Internal Revenue Code of 1986 (26 U.S.C. § 2503) or successor provisions".

Section 12. If any provision of this act or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this act which can be given effect without the invalid provision or application, and to this end the provisions of this act arc severable.

Section 13. This Act will be effective for gifts made after December 31, 1997.

Approved July 8, 1998