Bill > HB1474

This bill establishes a new Meals and Rooms Municipal Revenue Fund that will distribute 30 percent of the net income from the meals and rooms tax to municipalities, with a complex distribution formula designed to support communities with lower property values. Starting July 1, 2026, the state treasurer will calculate distributions based on population, excluding residents in tax-exempt housing like college dorms, prisons, and nursing homes, and using a formula that favors municipalities with an average equalized property value of $500,000 or less. The distribution calculation involves subtracting a municipality's average equalized property value from $500,000, dividing that by $200,000 to create a factor, multiplying this factor by the adjusted population, and then using these population factors to determine the final distribution amount. This approach aims to provide more targeted financial support to communities with lower property values and smaller populations, potentially helping to address economic disparities between different municipalities in New Hampshire.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=2171&inflect=2