Bill Text: NH SB445 | 2016 | Regular Session | Introduced
Bill Title: Suspending the registration fee for the sale of municipal bonds in New Hampshire for 2 years.
Spectrum: Partisan Bill (Republican 5-0)
Status: (Introduced - Dead) 2016-03-03 - Pending Motion, Ought to Pass; 03/03/2016; Senate Journal 7 [SB445 Detail]
Download: New_Hampshire-2016-SB445-Introduced.html
SB 445-FN-LOCAL - AS INTRODUCED
2016 SESSION
16-2895
06/10
SENATE BILL 445-FN-LOCAL
AN ACT suspending the registration fee for the sale of municipal bonds in New Hampshire for 2 years.
SPONSORS: Sen. Sanborn, Dist 9; Sen. Avard, Dist 12; Sen. Birdsell, Dist 19; Sen. Boutin, Dist 16; Sen. Cataldo, Dist 6
COMMITTEE: Ways And Means
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ANALYSIS
This bill suspends the registration fee for the sale of municipal bonds in New Hampshire for 2 years.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
16-2895
06/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Sixteen
AN ACT suspending the registration fee for the sale of municipal bonds in New Hampshire for 2 years.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Registration Fee for Sale of Municipal Bonds; Suspension During Biennium. Notwithstanding the provisions of RSA 421-B:3-302(a) and RSA 421-B:6-614, registration fees for the sale of municipal bonds in New Hampshire shall be suspended beginning on the effective date of this act and through the biennium ending June 30, 2017.
2 Effective Date. This act shall take effect 60 days after its passage.
16-2895
12/11/15
SB 445-FN-LOCAL- FISCAL NOTE
AN ACT suspending the registration fee for the sale of municipal bonds in New Hampshire for 2 years.
FISCAL IMPACT:
The Department of State states this bill, as introduced, may decrease state revenues by approximately $42,500 in FY 2017. There will be no fiscal impact to state, county, and local expenditures or county and local revenue.
METHODOLOGY:
The Department of State states this bill suspends the registration fee for industrial revenue bonds from 60 days after the passage of this bill through June 30, 2017. The Department of State receives approximately 34 filings annually for industrial revenue bonds. The fee for a notice filing of industrial revenue bonds is two-tenths of one percent of the New Hampshire aggregate offering price to a maximum of $1,050, which is usually reached by every filing. Additionally, there is a non-refundable $200 fee charged. Assuming 34 filings are made annually and the maximum fees apply, the Department of State estimates this bill would reduce state general fund revenue by $42,500 (34 * ($1,050 + $200)).
