DOVER (AP) — Republican lawmakers have introduced legislation to abolish Delaware’s estate tax.
A bill filed in advance of the upcoming legislative session calls for the tax to be “sunset” on Dec. 31, 2017.
A committee hearing on the bill will be held after lawmakers convene for a new legislative session on Jan. 10.
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GOP lawmakers are seeking to eliminate the estate tax at a time when the incoming administration of Gov.-Elect John Carney will be dealing with a significant revenue shortfall.
According to recent estimates, the estate tax is expected to generate $5 million annually for the state’s general fund in the current and upcoming fiscal years.
