CHAPTER 138
HB 541 – FINAL VERSION
15Mar2011… 0470h
2011 SESSION
10/09
HOUSE BILL 541
AN ACT relative to ownership of property placed in trust qualifying for certain property tax exemptions and credits.
SPONSORS: Rep. Emerton, Hills 7
COMMITTEE: Municipal and County Government
This bill clarifies the ability of the owner of real property whose property is placed in a grantor/revocable trust to qualify for exemptions or tax credits.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
15Mar2011… 0470h
11-0770
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT relative to ownership of property placed in trust qualifying for certain property tax exemptions and credits.
Be it Enacted by the Senate and House of Representatives in General Court convened:
138:1 Property Taxation; Definitions; Ownership of Real Estate. Amend RSA 72:29, VI to read as follows:
VI. For purposes of RSA 72:28, 29-a, 30, 31, 32, 33, 35, 36-a, 37, 37-a, 37-b, 38-a, 39-a, 62, 66, and 70, the ownership of real estate, as expressed by such words as “owner,” “owned” or “own,” shall include those who have placed their property in a grantor/revocable trust or who have equitable title or the beneficial interest for life in the subject property.
138:2 Effective Date. This act shall take effect April 1, 2011.
Approved: June 7, 2011
Effective Date: April 1, 2011