Revision: Jan. 21, 2010, midnight
CHAPTER 219
SB 300-FN-A-LOCAL – FINAL VERSION
02/23/06 1028s
05Apr2006… 1528h
2006 SESSION
09/01
SENATE BILL 300-FN-A-LOCAL
AN ACT exempting certain transfers of real estate between charitable organizations from the real estate transfer tax.
This bill exempts certain transfers of real estate between charitable organizations pursuant to a merger, consolidation, or reorganization of 2 or more organizations.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
02/23/06 1028s
05Apr2006… 1528h
06-2704
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Six
AN ACT exempting certain transfers of real estate between charitable organizations from the real estate transfer tax.
Be it Enacted by the Senate and House of Representatives in General Court convened:
219:1 Tax on Transfer of Real Property; Exceptions. Amend RSA 78-B:2 by inserting after paragraph XVIII the following new paragraph:
XIX. To a transfer of title pursuant to a merger, consolidation, or reorganization of 2 or more organizations, each of which is exempt from federal income taxation under section 501(c)(3) or section 501(c)(2) of the United States Internal Revenue Code of 1986, as amended, where all such organizations have certified in advance of the transaction to the satisfaction of the commissioner of the department of revenue administration that, over the 3 fiscal years preceding the transfer, on average, a majority of their collective program service revenues received from third parties have been received from federal, state, and/or local governmental sources.
219:2 Effective Date. This act shall take effect upon its passage.
Approved: June 1, 2006
Effective: June 1, 2006