CHAPTER 181
HB 803-FN-A-LOCAL – FINAL VERSION
22Jan2004… 2550h
04/15/04 1102s
2004 SESSION
05/10
HOUSE BILL 803-FN-A-LOCAL
AN ACT relative to the establishment of municipal economic development and revitalization districts by municipalities.
SPONSORS: Rep. Akins, Graf 18; Rep. Langone, Rock 77; Sen. Martel, Dist 18; Sen. Below, Dist 5
COMMITTEE: Municipal and County Government
This bill changes the limitations for municipalities that may create a municipal economic development and revitalization district under RSA 162-K.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
22Jan2004… 2550h
04/15/04 1102s
03-0822
05/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Four
AN ACT relative to the establishment of municipal economic development and revitalization districts by municipalities.
Be it Enacted by the Senate and House of Representatives in General Court convened:
181:1 Establishment of Districts; Limitations. Amend RSA 162-K:5 to read as follows:
162-K:5 Establishment of Districts; Limitations. Upon a finding that such action will serve public purposes, the legislative body of the municipality may create, within its jurisdiction, development districts. The area of a district [shall not be enlarged after 5 years] may be enlarged following the date of designation of the district. Municipalities establishing development districts shall comply with one of the following limitations:
I. The total acreage included in any one development district when designated shall not exceed [1 ˝] 5 percent of the total acreage of the municipality, and when added to the total current acreage within the development districts for which bonds remain outstanding shall not exceed [3] 10 percent of the total acreage of the municipality.
II. The total assessed value of taxable real property of any one development district when designated shall not exceed [5] 8 percent of the most recent total assessed value of taxable real property in the municipality, and when added to the current total assessed value of taxable real property within development districts for which bonds remain outstanding, shall not exceed [10] 16 percent of the most recent total assessed value of taxable real property in the municipality.
181:2 Effective Date. This act shall take effect 60 days after its passage.
(Approved: June 1, 2004)
(Effective Date: July 31, 2004)