AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO REALTY TRANSFER TAXES AND THE DELAWARE LAND AND WATER CONSERVATION TRUST FUND.

This bill increases the annual funding to the Delaware Land and Water Conservation Trust to adjust for inflation. These funding amounts have not been adjusted since 2001. The increase in funding also accommodates increased real estate costs, especially in coastal areas. This bill also allows the Open Space Program to access up to 7.5% of the Endowment fund’s 5-year rolling average, up from 5% to supplement purchases beyond the appropriated funds and to augment Program activities in years when the program is not fully funded.