AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO EXEMPTION FROM TAXATION OF PROPERTY OWNED BY RIVERFRONT DEVELOPMENT CORPORATION OF DELAWARE.

This Act provides that properties owned by the Riverfront Development Corporation of Delaware are exempt from taxation. The Riverfront Development Corporation of Delaware is an entity created by State law for purposes of planning and development of the area along the Brandywine and Christina Rivers. Removing tax burdens from the Riverfront Development Corporation of Delaware will enable it to better engage in its development efforts, including attracting other investors and tenants, and ultimately promote the common good of the citizens of this State.