Bill > SB81

This bill increases the annual real estate transfer tax revenue contribution to the affordable housing fund, making two key changes. First, it raises the amount transferred from the real estate transfer tax revenue from $5 million to $10 million annually, which will reduce revenues to the General Fund and Education Trust Fund by approximately $3.35 million and $1.65 million respectively. Second, the bill appropriates $25 million from the General Fund to the New Hampshire Housing Finance Authority for deposit into the affordable housing fund during the biennium ending June 30, 2027. The bill also repeals a previous provision related to fees paid to the authority from the development of qualified residential rental projects. The purpose of these changes appears to be to provide additional funding for affordable housing initiatives in New Hampshire, with the increased transfer and appropriation intended to support the New Hampshire Housing Finance Authority's efforts to address housing needs. The bill is set to take effect on July 1, 2025.