AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO THE NEIGHBORHOOD ASSISTANCE TAX CREDIT.

Section 1 of this Act increases the aggregate amount of Neighborhood Assistance Tax Credits that can be approved in any 1 fiscal year from $500,000 to $1 million. Section 1 of this Act also makes a technical correction to use “persons,” which is a defined term for purposes of the Neighborhood Assistance Tax Credit, instead of “firms,” which is not defined, and to conform existing law to the standards of the Delaware Legislative Drafting Manual. Section 2 of this Act provides the Delaware State Housing Authority with funds to administer the Neighborhood Assistance Tax Credit program.