Bill Text: NH HB1556 | 2012 | Regular Session | Introduced
Bill Title: Reducing fees related to reporting of charitable trusts.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Failed) 2012-02-15 - House Inexpedient to Legislate: Motion Adopted Voice Vote; House Journal 16, PG.928 [HB1556 Detail]
Download: New_Hampshire-2012-HB1556-Introduced.html
HB 1556-FN – AS INTRODUCED
2012 SESSION
01/04
HOUSE BILL 1556-FN
AN ACT reducing fees related to reporting of charitable trusts.
SPONSORS: Rep. Cusson-Cail, Hills 14; Rep. J. G. Barry, Hills 16; Rep. Cohn, Merr 6
COMMITTEE: Executive Departments and Administration
This bill reduces filing fees related to reporting of charitable trusts.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
12-2551
01/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twelve
AN ACT reducing fees related to reporting of charitable trusts.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Charitable Trusts; Filing Fees. Amend RSA 7:28-a, I and II to read as follows:
I. Any instrument required by RSA 7:28, I to be filed with the attorney general shall be accompanied by a filing fee of [$25] $10.
II. Any periodic written report required by RSA 7:28, II to be filed with the attorney general shall be accompanied by a filing fee of [$75] $35.
2 Effective Date. This act shall take effect 60 days after its passage.
LBAO
12-2551
10/11/11
HB 1556-FN - FISCAL NOTE
AN ACT reducing fees related to reporting of charitable trusts.
FISCAL IMPACT:
The Department of Justice states this bill will decrease state restricted revenue and expenditures by $78,806 in FY 2012, and $315,225 in FY 2013 and each year thereafter. There is no fiscal impact on county and local expenditures or revenue.
METHODOLOGY:
The Department of Justice states this bill reduces the filing fee under RSA 7:28,I from $25 to $10 and the filing fees under RSA 7:28,II from $75 to $35. The Charitable Trust Unit is funded entirely by the fees it collects. The Department states that in FY 2011 it collected filing fees for 767 applications under RSA 7:28, I and collected filing fees for 7,593 annual reports under RSA 7:28, II. It is estimated the revenue collected under RSA 7:28, I will decrease from $19,175 ($25 * 767 applications) to $7,670 ($10 * 767 applications), a loss of $11,505 in revenue each year. It is estimated the revenue collected under RSA 7:28, II will decrease from $569,475 ($75 * 7,593 filings of annual reports) to $265,755 ($35 * 7,593 filings of annual reports), a loss of $303,720 in revenue each year. The decrease in revenue will result in a corresponding decrease in expenditures which will likely result in a reduction in staffing, impacting the Charitable Trust Unit’s ability to oversee and regulate the 8,300 registered nonprofit charitable organizations and 65 registered professional fundraisers as well as the numerous testamentary trusts. Since the bill is effective 60 days after passage, the impact in the first year will be 25% of the estimated annual impact.
