Bill > HB318

This bill increases the percentage of revenue from the Business Enterprise Tax (BET) deposited into the Education Trust Fund from 41% to 59%, effective July 1, 2025. Specifically, the bill amends the existing law to require the state commissioner to determine 59% (instead of the current 41%) of the BET revenue for each fiscal year and certify this amount to the state treasurer for deposit into the Education Trust Fund. According to the fiscal note, using the FY 2025 planned revenue of $377.7 million, this change would shift approximately $68 million from the General Fund to the Education Trust Fund. The bill's methodology notes that this change may create some complexity in revenue reporting due to the different fund splits between Business Enterprise Tax and Business Profits Tax, potentially requiring future fiscal year adjustments. No additional administrative costs are expected to be incurred by implementing this change.

Budget and Finance

https://gc.nh.gov/bill_status/legacy/bs2016/bill_status.aspx?lsr=0515&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=HB318