HB 669-FN-A - AS INTRODUCED

2025 SESSION

25-0341

02/06

HOUSE BILL 669-FN-A

AN ACT relative to requiring all revenue raised under the statewide education property tax to be deposited in the education trust fund, and setting an equalized statewide tax rate.

SPONSORS: Rep. M. Smith, Straf. 10; Rep. Cloutier, Sull. 6; Rep. Girard, Sull. 6; Rep. Wheeler, Hills. 33

COMMITTEE: Ways and Means

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ANALYSIS

This bill requires all revenue raised from the statewide education property tax to be deposited in the education trust fund and sets an equalized statewide tax rate.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

25-0341

02/06

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty Five

AN ACT relative to requiring all revenue raised under the statewide education property tax to be deposited in the education trust fund, and setting an equalized statewide tax rate.

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

1 Assessment of Education Tax; Commissioner's Warrant.  Amend RSA 76:8, II to read as follows:

II. The commissioner shall issue a warrant under the commissioner's hand and official seal for the amount computed in paragraph I to the selectmen or assessors of each municipality by December 15 directing them to assess such sum and [pay it to the municipality for the use of the school district or districts] transmit the amount collected to the state treasurer for deposit in the education trust fund created pursuant to RSA 198:39. Such sums shall be assessed at such times as may be prescribed for other taxes assessed by such selectmen or assessors of the municipality.

2  Education Tax.  Amend RSA 76:3 to read as follows:

76:3 Education Tax.  Beginning July 1, [2005,] 2025, and every fiscal year thereafter, the commissioner of the department of revenue administration shall set the education tax rate at [a level sufficient to generate revenue of $363,000,000] a rate of $5.00 per $1,000 of property valuation when imposed on all persons and property taxable pursuant to RSA 76:8, except property subject to tax under RSA 82 and RSA 83-F. The education property tax rate shall be effective for the following fiscal year. [The rate shall be set to the nearest 1/2 cent necessary to generate the revenue required in this section.]

3  Repeal.  RSA 198:41, I(b), relative to determination of education grants, is repealed.

4  Effective Date.  This act shall take effect July 1, 2025.

LBA

25-0341

1/10/25

HB 669-FN-A- FISCAL NOTE

AS INTRODUCED

AN ACT relative to requiring all revenue raised under the statewide education property tax to be deposited in the education trust fund, and setting an equalized statewide tax rate.

FISCAL IMPACT:

The Office of Legislative Budget Assistant is unable to complete a fiscal note for this bill as it is awaiting information from the Department of Education and Department of Revenue Administration.   The Departments were contacted on 1/6/25 for a fiscal note worksheet.   When completed, the fiscal note will be forwarded to the House Clerk's Office.

AGENCIES CONTACTED:

Department of Education and Department of Revenue Administration