CHAPTER 223

SB 182-FN-A – FINAL VERSION

04/01/09 1086s

20May2009… 1441h

06/24/09 2172CofC

2009 SESSION

09-0889

09/10

SENATE BILL 182-FN-A

AN ACT establishing a committee to study business tax credits.

SPONSORS: Sen. Kelly, Dist 10; Sen. Fuller Clark, Dist 24; Sen. Odell, Dist 8

COMMITTEE: Ways and Means

AMENDED ANALYSIS

This bill establishes a committee to study business tax credits and the revenues attributable to business tax credits and their effectiveness.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

04/01/09 1086s

20May2009… 1441h

06/24/09 2172CofC

09-0889

09/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Nine

AN ACT establishing a committee to study business tax credits.

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

223:1 Committee Established. There is established a committee to study business tax credits and the revenues attributable to business tax credits and their effectiveness.

223:2 Membership and Compensation.

I. The members of the committee shall be as follows:

(a) Three members of the senate, appointed by the president of the senate.

(b) Three members of the house of representatives, all of whom shall be members of the ways and means committee, appointed by the speaker of the house of representatives.

II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.

223:3 Duties. The committee shall study business tax credits and the revenues attributable to business tax credits, including, but not limited to:

I. The community development finance authority investment tax credit under RSA 162-L:10.

II. The economic revitalization zone tax credit under RSA 162-N.

III. The research and development tax credit under RSA 77-A:5, XIII.

IV. The Coos county job creation credit under RSA 162-Q.

V. The business profits tax credit for insurance taxes paid pursuant to RSA 400-A under RSA 77-A:5, III.

VI. The credit for business enterprise taxes against the business profits tax under RSA 77-A:5, X.

VII. The net loss carry forward provisions under the business profits tax and the business enterprise tax.

223:4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named senate member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Four members of the committee shall constitute a quorum.

223:5 Report. The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before December 1, 2009.

223:6 Effective Date. This act shall take effect upon its passage.

Approved: July 15, 2009

Effective Date: July 15, 2009