HOUSE BILL NO. 175
AS AMENDED BY HOUSE AMENDMENT NO. 1
AN ACT TO AMEND TITLE30 OF THE DELAWARE CODE RELATING TO REALTY TRANSFER TAX.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :
Section 1. Amend § 5401(1), Title 30 of the Delaware Code, by adding thereto a new subparagraph to read as follows:
“v. Any conveyance to or from an organization exempt from tax under § 501(c)(3) of the federal Internal Revenue Code [26 USC §501(c)(3)] when the purpose of said conveyance is to provide owner-occupied housing to low and moderate income households by rehabilitating residential properties and reselling said properties without profit.”
Approved July 23,1999