AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO SMALL BUSINESS TAX CREDITS.

This bill creates a one-time tax credit for small businesses in Delaware that have survived the COVID-19 pandemic. To qualify, a business must have been located in the state and employed 25 or fewer full-time employees as of December 31, 2019, while also being in good standing with tax filings as of January 1, 2024. Eligible businesses can claim a credit equal to 25% of their 2019 gross receipts when filing their 2024 or later state income tax returns, provided they apply by December 1, 2024. The legislation aims to provide financial relief to these specific businesses without speculating on broader economic outcomes.