AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO PERSONAL INCOME TAX CREDITS APPLICABLE TO OVERTIME INCOME.

This Act creates a new tax credit in the amount of $15,000 for Delaware residents, applicable to overtime paid under the Federal Fair Labor Standards Act for compensation paid to workers that work over 40 hours in a week. The credit phases out for resident individuals earning $125,000 and joint filers earning $250,000, and is fully phased out for individuals earning $150,000 and joint filers earning $300,000.