CHAPTER 112

FORMERLY

SENATE BILL NO. 148

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO DELAWARE TAXES.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Three-fifths of all members elected to each house thereof concurring therein):

Section 1. Amend § 539, Title 30 of the Delaware Code, by adding to said section a new subsection (g) to read as follows:

"(g) In the case of an individual,

(1) the running of the periods specified in this section with respect to individuals shall be suspended during any period of such individual's life that such individual is financially disabled.

(2) For purposes of paragraph (1), an individual is financially disabled if such individual is unable to manage his financial affairs by reason of a medically determinable physical or mental impairment (excluding impairment caused by voluntary use of alcohol or unlawful use of a controlled substance defined in Chapter 47, Title 16 of this Code) which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months.

(3) An individual shall not be treated as financially disabled during any period that such individual's spouse, guardian, or any other person is authorized to act on behalf of such individual in financial matters.".

Section 2. Amend § 533, Title 30 of the Delaware Code, by enacting a new subsection "(i)" as follows:

"(i) If the Secretary of the Treasury of the United States extends the time for filing income tax returns under §6081 of the Internal Revenue Code (26 U.S.C. § 6081) and the time for paying income tax with respect to such returns under section 6161 of the Internal Revenue Code (26 U.S.C. §6161) for any taxpayer located in a Presidentially declared disaster area, the Director shall abate for such period the assessment of any interest prescribed under §533 and penalties for failure to file a return under §534(a) or to pay the tax under §534(b) on such taxpayer's income and business license tax. For purposes of this paragraph, the term `Presidentially declared disaster area' means, with respect to any taxpayer, any area which the President of the United States has determined warrants assistance by the Federal Government under the Disaster Relief and Emergency Assistance Act.".

Section 3. Amend § 531, Title 30 of the Delaware Code by adding to said section a new subsection (i) to read as follows:

"(i) If a taxpayer omits from a return any amount of income, gross receipts, gross gifts, or gross estate properly includible therein which exceeds 25 percent of the amount stated on the return, the tax may be assessed at any time within 6 years after the return was filed.".

Approved July 01,1999