Title 29, State Government

§ 8705A. Division of Small Business — Powers, duties, and functions of Director. The Director shall have the following powers, duties, and functions: (1) To supervise, direct and account for the administration and operation of the Division, its subdivisions, offices, functions an…

§ 8706A. Responsibilities of the Public/Private Partnership and the Division. (a) The Public/Private Partnership shall be governed by a board of directors comprised of no less than 15 members, and shall to be composed of the following: (1) The Governor, who shall serve as co-chai…

§ 8707A. Council on Development Finance. (a) The Council on Development Finance is hereby established and shall serve in an advisory capacity to the Director and shall consider matters relating to the financing and modernization of agricultural, industrial, commercial, emerging t…

§ 8708A. Tourism Advisory Board [Repealed].63 Del. Laws, c. 189, § 2; 70 Del. Laws, c. 186, § 1; 81 Del. Laws, c. 49, § 1; repealed by 84 Del. Laws, c. 115, § 2, effective July 25, 2023.;

§ 8709A. Division of Small Business — Staff. The Director and all employees of the Division shall be exempt from Chapter 59 of this title.63 Del. Laws, c. 189, § 2; 65 Del. Laws, c. 225, § 1; 69 Del. Laws, c. 458, § 1; 81 Del. Laws, c. 49, § 1; 81 Del. Laws, c. 374, § 6;

§ 8710A. Division of Small Business — Collection and distribution of information; sale of publications. (a) The Division may collect and disseminate any data or other information including, but not limited to, the population, demographics and economy of the State. The Division sh…

§ 8711A. Site Readiness Fund. (a) The Site Readiness Fund (“Fund”) is established to provide economic assistance for renovation, construction, or other improvements to infrastructure to attract new businesses to this State, or expand existing businesses in this State, when such a…

§ 8712A. Assistance for tourism and business promotion. (a) The Director is hereby authorized and directed to establish a special fund of the State to encourage instrumentalities and political subdivisions of the State and private and public nonprofit associations to attract new …

§ 8713A. Assumption of powers of Division. The Division shall have the power to perform and shall be responsible for the performance of all powers, duties and functions heretofore vested by law in the Division of Economic Development of the Department of Community Affairs and Eco…

§ 8714A. Rights of appeals continued. Any and all rights of appeal now existing by law with respect to any act or acts constituting the exercise of any function or functions transferred by this chapter to the Division, to any subdivision thereof or to any council or board created…

§ 8715A. Transition provisions. (a) All property, including all books, records, papers, maps, charts, plans, equipment and other materials owned by or in the possession of any agency of the State and used in connection with a function transferred by law to the Delaware Economic D…

§ 8716A. Reports. (a) The Division shall submit 1 annual report on or before December 1 of each year that includes all of the following information: (1) The status of the Division’s efforts to meet the vision, goals, objectives, strategies, and economic indicators included in its…

§ 8717A. Misnomer of Division in donation. Any misnomer shall not defeat or annul any gift, grant, devise or bequest to the Division if it sufficiently appears by the will, conveyance or other writing that the party making the same intended to pass and convey thereby to the Divis…

§ 8718A. Budget. The Director shall prepare a proposed budget for the operation of the Division to be submitted along with the proposal for the Department of State for the consideration of the Secretary, Governor and the General Assembly. The budget may be presented in any manner…

§ 8719A. Supremacy. All other laws or parts of laws now in effect inconsistent with this chapter are hereby repealed, superseded, modified or amended so far as necessary to conform to, and give full force and effect to, this chapter.63 Del. Laws, c. 189, § 2; 81 Del. Laws, c. 49,…

§ 8727A. Findings and purpose; creation of the Fund. (a) The General Assembly finds that Delaware’s development finance programs are necessary to compete for new and existing businesses. Furthermore, the General Assembly finds the number and limited previous funding of finance pr…

§ 8728A. Fund purposes. (a) Moneys appropriated to the Fund may be loaned, granted or used in other financing mechanisms by the Authority within the State. The Fund may be used for the following purposes: (1) Retention and expansion of existing firms; (2) Recruitment of new firms…

§ 8729A. Findings and determinations for assistance. (a) The Authority shall draft rules and regulations pertaining to the Fund eligibility, and establish criteria to administer the Fund. (b), (c) [Repealed.] (d) The amount and type of assistance provided by the Division to a fir…

§ 8735A. Delaware Technical Innovation Program — Creation; definitions. (a) There is hereby created the Delaware Technical Innovation Program to be administered by the Division. (b) For the purpose of this subchapter the following definitions shall apply: (1), (2) [Repealed.] (3)…

§ 8736A. Duties. In carrying out this Program, to promote technology development and utilization within the small business sector, the duties of the Division shall include but not be limited to: (1) Promote the SBIR and STTR Programs among Delaware small businesses. (2) Seek tech…

§ 8737A. Matching or supplemental funds for federal Small Business Innovation Research Program and Small Business Technology Transfer Program. (a) Subject to funds allocated or otherwise made available for such purpose, this State may provide matching funds or supplemental grant …

§ 8738A. Reporting [Repealed].66 Del. Laws, c. 351, § 1; 69 Del. Laws, c. 458, § 1; 81 Del. Laws, c. 49, § 1; repealed by 81 Del. Laws, c. 374, § 10, effective July 1, 2018.;

§ 8739A. Declaration of policy [Repealed].68 Del. Laws, c. 446, § 1; 69 Del. Laws, c. 458, § 1; 70 Del. Laws, c. 186, § 1; 81 Del. Laws, c. 49, § 1; repealed by 81 Del. Laws, c. 374, § 11, effective July 1, 2018.;

§ 8740A. Establishment of the Human Investment and Partnership Program [Repealed].68 Del. Laws, c. 446, § 1; 69 Del. Laws, c. 458, § 1; 70 Del. Laws, c. 186, § 1; 81 Del. Laws, c. 49, § 1; repealed by 81 Del. Laws, c. 374, § 11, effective July 1, 2018.;

§ 8741A. Responsibilities and functions of the Human Investment and Partnership Program [Repealed].68 Del. Laws, c. 446, § 1; 70 Del. Laws, c. 186, § 1; 81 Del. Laws, c. 49, § 1; repealed by 81 Del. Laws, c. 374, § 11, effective July 1, 2018.;

§ 8743A. Reporting to the Governor and the General Assembly [Repealed].68 Del. Laws, c. 446, § 1; 69 Del. Laws, c. 458, § 1; 70 Del. Laws, c. 186, § 1; 81 Del. Laws, c. 49, § 1; repealed by 81 Del. Laws, c. 374, § 11, effective July 1, 2018.;

§ 8746A. Legislative intent. The General Assembly finds that small businesses in the State are of vital significance to Delaware’s economic well-being and that small businesses provide the vast majority of jobs in the State. The General Assembly also finds that small businesses h…

§ 8747A. Creation of the Fund. (a) A special fund to be known as the “Small Business Revolving Loan and Credit Enhancement Fund,” hereinafter referred to as the “Fund” shall be created and administered by The Delaware Economic Development Authority, hereinafter referred to as the…

§ 8748A. Fund purposes. (a) The moneys appropriated to the Fund may be used by the Authority for loans up to 25 percent of the total debt required, but not to exceed $100,000 for working capital and fixed asset purposes. (b) The moneys appropriated to the Fund may also be used to…

§ 8749A. Fund eligibility. In order for a project to be eligible for the Fund purposes cited in § 8748A of this title, the project must meet the following criteria: (1) For the purpose of administering the Fund, a small business shall be defined as a firm having a full-time equiv…

§ 8750A. Delaware Motion Picture and Television Development Commission. (a) There is hereby established the Delaware Motion Picture and Television Development Commission (the “Commission” ) which consists of 11 members. Membership is composed as follows: (1) Director of the Divis…

§ 8751A. Findings; declaration of policy. (a) It is determined and declared as a matter of legislative finding that: (1) The good order of the State and the health and welfare of its citizens depend upon the steady employment, in useful occupations, of the citizens of the State; …

§ 8752A. Definitions. The following words and terms, unless the context clearly indicates a different meaning, shall have the following respective meaning: (1) “Agricultural business” means any enterprise engaged in raising, preparing or marketing crops, timber, nursery stock, li…

§ 8753A. Established; organization. (a) There is hereby established a body corporate and politic, with corporate succession, to be known as “The Delaware Economic Development Authority.” The Authority is hereby constituted as an instrumentality of the State exercising public and …

§ 8754A. Deauthorization of state-guaranteed bonds. (a) The Authority may issue bonds to finance the cost of any project or part thereof with respect to which the Authority has adopted a resolution. (b) The Authority may issue bonds to refund bonds previously issued by the Author…

§ 8755A. Application for assistance; findings and determinations. (a) The Authority may adopt a resolution, provided that an application for assistance under this subchapter shall be submitted to the Authority, for the advice or, where required by this subchapter, the approval of…

§ 8756A. Bonds. (a) The bonds authorized to be issued by this subchapter shall be authorized by a resolution and shall be of such series; bear such date or dates; mature at such time or times, not exceeding 20 years for state-guaranteed bonds; bear interest at such rate or rates;…

§ 8757A. Covenants with bondholders. (a) The Authority shall have the power to covenant and to agree with the holders of bonds in order to secure the payment of such bonds, as to: (1) The custody, security, use, expenditure, investment or application of the proceeds of bonds; (2)…

§ 8758A. Pledge of revenues or other property. Any pledge of revenues or other property made by the Authority shall be valid and binding from the time when the pledge is made. Revenues so pledged and thereafter received by the Authority shall immediately be subject to the lien of…

§ 8759A. Limitation on liability of State. (a) Bonds, other than state-guaranteed bonds, issued pursuant to this subchapter shall not constitute a debt of the State or any political subdivision or any agency thereof, or a pledge of the full faith and credit or taxing power of the…

§ 8760A. Negotiability of bonds. The bonds and any coupons appurtenant thereto shall be negotiable instruments and securities under the Uniform Commercial Code of the State.62 Del. Laws, c. 269, § 1; 63 Del. Laws, c. 189, § 5(a); 81 Del. Laws, c. 49, § 1;

§ 8761A. Default in payment of state-guaranteed bonds; insufficient revenues to make payment. If any payment of principal, premium, if any, or interest due to the Authority or to a trustee or other person as assignee of the Authority with respect to a project financed by proceeds…

§ 8762A. Limitation of powers of State. The State pledges to and agrees with any holder of the bonds that the State will not limit or alter the rights vested in the Authority until all bonds at any time issued, together with the interest thereon and all costs and expenses in conn…

§ 8764A. Bonds as legal investments for institutions and fiduciaries. Bonds issued under this subchapter are made securities in which all state and municipal officers and administrative departments, boards and commissions of the State, all banks, bankers, savings banks or societi…

§ 8765A. Exemption from taxation. (a) Interest on bonds issued under this subchapter shall be exempt from income taxation by the State or any political subdivision thereof. (b) Any real or personal property of the Authority which is not used by an assisted person as part of, or i…

§ 8766A. Property of Authority exempt from judicial process. All property of the Authority shall be exempt from execution process, and no attachment, sequestration, execution, levy or other judicial process shall issue against the same, nor shall any judgment against the Authorit…