CHAPTER 88

FORMERLY

HOUSE BILL NO. 192

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO THE REALTY TRANSFER TAX.

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

Section 1. Amend Section 5421, Title 30 of the Delaware Code by adding the following subsection (8) to read as follows:

"(8) "Stewardship Account" means the account by that name created within the Conservation Trust Fund pursuant to §5423 of this title. Generally, this Account shall hold funds to be used in the planning for, and implementation of, management projects on public lands that promote cultural preservation and conservation activities related to plants and animals and their habitat."

Section 2. Amend Section 5423 (b) (1), Title 30 of the Delaware Code by striking the phrase "$1,000,000 in any fiscal year shall be deposited in the Project Account." and by substituting in lieu thereof "$1,500,000 in any fiscal year shall be deposited in the Stewardship Account."

Section 3. Amend Section 5423 (b) (2), Title 30 of the Delaware Code by striking the amount "$7,000,000" and by substituting in lieu thereof "$1,000,000".

Section 4. Amend Section 5423 (b) (3), Title 30 of the Delaware Code by striking the following phrase: "or on July 1, 2005, whichever occurs sooner".

Section 5. Amend Section 5423 (c) (1), Title 30 of the Delaware Code by striking the amount "$3,000,000" and by substituting in lieu thereof "$9,000,000".

Section 6. Amend Section 5423 (c) (3), Title 30 of the Delaware Code by striking said subsection in its entirety.

Section 7. Amend Section 5423, Title 30 of the Delaware Code by adding a new subsection (e) to read as follows:

"Funds in the Stewardship Account, and the earnings thereon, which are to be retained therein, shall be disbursed proportionately by the Secretary according to the following formula: 35% to the Division of Parks and Recreation, 35% to the Division of Fish and Wildlife, 10% to the Division of Historical and Cultural Affairs, and 20% to the Department of Agriculture Forest Service. The Secretary shall maintain an annual accounting of all expenditures for reporting to the General Assembly and shall include a summary of all program activities in the 5-year Open Space Report. The Stewardship Account is intended to provide funds for current expenditure although the State agencies may, in their discretion, accumulate funds in the Stewardship Account for particular project purposes. It is the intent of the General Assembly that funds in the Stewardship Account shall be used by the State agencies for management and preservation of biological and cultural resources in addition to any other funds which have been previously appropriated for this purpose or which may be so appropriated in the future."

Section 9. Amend Section 5423(a), Title 30 of the Delaware Code by inserting the phrase and quotation marks "a Stewardship Account," after the phrase "Endowment Account," and before the phrase "a Project Account,".

Section 10. This bill shall go into effect June 30, 2001.

Approved June 30, 2001