Bill > SB635

This bill establishes a health reimbursement arrangement (HRA) tax credit program for qualifying businesses in New Hampshire, allowing employers with more than one employee to receive a tax credit for contributions to employee health reimbursement accounts. Under the program, qualified taxpayers (which include corporations, limited liability companies, and partnerships with state tax liability) can claim a tax credit of up to $400 per covered employee in the first year and $200 per employee in the second year, with a maximum annual credit of $20,000 in the first year and $10,000 in the second year. To be eligible, employers must either maintain the same level of health benefits as the previous year or contribute an equal or greater amount to the HRA compared to their previous employer-provided health insurance plan. The tax credit can be applied against the business profits tax or business enterprise tax, and any unused credit can be carried forward for up to three years. The total amount of tax credits granted under the program is capped at $10,000,000 per taxable year, and credits will be approved in the order they are filed. The program is set to apply to taxable periods ending on or after December 31, 2027, with an effective date of July 1, 2026.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1413&inflect=2