Bill > HB1505

This bill requires municipalities, towns, and cities to submit detailed documentation to the Department of Revenue Administration (DRA) proving they are in compliance with local budget and tax caps. Specifically, the bill mandates that political subdivisions with local tax caps or budget caps must provide a form that includes calculations of the cap, proposed appropriations, estimated revenues, and vote counts for any tax cap overrides. The bill modifies existing laws to clarify how appropriations are calculated towards tax caps, including reducing the amount of appropriations by estimated revenues and anticipated state or federal funding. It also establishes a new enforcement mechanism where the DRA can reduce budgets that exceed adopted caps if they do not receive the required three-fifths majority vote. The changes apply to existing tax and budget caps without requiring local governments to re-adopt them, and the bill will take effect 60 days after passage. While the bill does not provide additional funding, it is expected to create some administrative costs for both the DRA (estimated at $75,000) and local municipalities (estimated at under $10,000 per municipality).

Budget and Finance, Government Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1706&inflect=2