Bill > SB404

This bill modifies the Economic Revitalization Zone (ERZ) tax credit program by making several key changes: it extends the reevaluation period for economic revitalization zones from 5 to 8 years, increases the aggregate tax credit limit from $825,000 to $1,000,000 per fiscal year, and raises the maximum individual taxpayer credit from $40,000 to $50,000. The bill changes the program's accounting from calendar to fiscal years and adjusts the percentage of tax credits for new jobs based on wage levels, with higher percentages for jobs paying more than 2.5 times the state minimum wage. Additionally, the bill introduces new restrictions, such as limiting tax credit usage to 5 consecutive taxable periods, preventing taxpayers from applying for additional credits until existing credits are exhausted, and disqualifying certain foreign-owned businesses from receiving credits. The bill also adds a provision that employees or investments used for tax credits before July 1, 2027, cannot be used as a basis for credits after that date. Most provisions will take effect on July 1, 2027, with some sections taking effect immediately upon passage.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1408&inflect=2