HB 117-FN-A-LOCAL - FINAL VERSION

4march99.....0262h

22april99.....0926h

22april99.....0934h

4/22/99 0965s

29april99.....1019 CofC

HOUSE BILL 117-FN-A-LOCAL

AN ACT establishing a uniform education property tax and a utility property tax, increasing the business profit and real estate transfer taxes, and including other sources of revenue to provide funding for an adequate public education and making an appropriation therefor.

SPONSORS: Rep. Hess, Merr 11

COMMITTEE: Finance

AMENDED ANALYSIS

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Explanation: Matter added to current law appears in bold italics.

4march99.....0262h

22april99.....0926h

22april99.....0934h

4/22/99 0965s

29april99.....1019 CofC

STATE OF NEW HAMPSHIRE

In the Year of Our Lord One Thousand Nine Hundred and Ninety-Nine

AN ACT establishing a uniform education property tax and a utility property tax, increasing the business profit and real estate transfer taxes, and including other sources of revenue to provide funding for an adequate public education and making an appropriation therefor.

Be it Enacted by the Senate and House of Representatives in General Court convened:

CHAPTER 83-F

UTILITY PROPERTY TAX

State Aid for Educational Adequacy; Education Trust Fund

Excess Education Property Tax Payment

Approved: April 29, 1999

Effective: I. Sections 19 and 21 shall take effect July 1, 1999, and shall apply to returns and taxes due on account of taxable periods ending on or after July 1, 1999. In the case of any business organization or enterprise which has elected a 52-53 week taxable period under section 441(f) of the United States Internal Revenue Code and the fiscal year of which ends on the last day of the week nearest to June 30, 1999, the taxable period shall be deemed to have ended on June 30, 1999 for the purposes of this act.

HB 117-FN-A-LOCAL - FISCAL NOTE

AN ACT relative to local property taxation and state aid to support an adequate public education and making an appropriation therefor.

FISCAL IMPACT:

METHODOLOGY: