CHAPTER 377

FORMERLY

HOUSE BILL NO. 515

AN ACT TO AMEND TITLE 22 OF THE DELAWARE CODE RELATING TO PARKING AUTHORITIES.

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

Section 1. Amend § 501, Title 22 of the Delaware Code by adding a new Subsection as follows, and renumbering the current Subsection (9) as Subsection (10):

"(9) The utilization of street level space for parking garages within a city's central business district reduces the available space for retail and other commercial uses, thereby interfering with the growth and development of the central business district;".

Section 2. Amend § 504, Title 22 of the Delaware Code by inserting the phrase "and, provided further, the authority may lease up to five percent (5%), or such other amended percentage under federal law that would permit the issuance of tax free revenue bonds for financing of construction, of the total square footage of any of its garage buildings or structures located within a city's central business district for commercial use that is accessible from the level of the street adjoining the buildings or structures." at the end of the sentence that concludes with "the space above such parking facility.".

Section 3. This Act shall become effective upon its enactment into law.

Approved July 08, 2002