Bill > HB1385

This bill prohibits the New Hampshire Department of Revenue Administration (DRA) from accepting or establishing negative tax rates for localities that have minimal or no public education expenses in their budget but still contain taxable property. In practical terms, this means that a municipality with very low educational costs cannot create a tax rate that would result in property owners receiving money back instead of paying taxes. The bill amends the state's revenue administration statutes by adding a new section (21-J:35-a) that specifically restricts this practice. The legislation is designed to prevent potential loopholes or unusual tax scenarios where a locality might manipulate its tax rates to create a financial benefit that goes beyond typical property tax mechanisms. The bill will take effect immediately upon its passage, meaning the prohibition will be in place as soon as the bill becomes law.

Government Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=2387&inflect=2