HB391 (2007) Detail

Establishing a committee to study the implementation of a circuit breaker on property tax liability.


HB 391 – AS INTRODUCED

2007 SESSION

07-0642

10/09

HOUSE BILL 391

AN ACT establishing a committee to study the implementation of a circuit breaker on property tax liability.

SPONSORS: Rep. J. Hammond, Hills 3; Sen. Bragdon, Dist 11

COMMITTEE: Municipal and County Government

ANALYSIS

This bill establishes a committee to study the implementation of a circuit breaker on property tax liability.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

07-0642

10/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Seven

AN ACT establishing a committee to study the implementation of a circuit breaker on property tax liability.

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

1 Committee Established. There is established a committee to study the implementation of a circuit breaker on property tax liability.

2 Membership and Compensation.

I. The members of the committee shall be as follows:

(a) Three members of the house of representatives, appointed by the speaker of the house of representatives.

(b) Three members of the senate, appointed by the president of the senate.

II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.

3 Duties. The committee shall study whether the general court should establish a so-called circuit breaker capping a property owner’s tax liability at a certain percentage of household income. The study shall consider a hierarchy for application of a circuit breaker whereby state, local, county, and village district taxes may be treated differently in the determination of the person’s applicable cap. For a cap or circuit breaker which applies to statewide education taxes, the committee shall determine the extent of liability of the state education trust fund to provide a source of funds for any local revenue shortfall, and whether local cap eligibility can be used as a mechanism for directing state education funds. The study may include an analysis of the difficulty of applying property tax relief provisions such as a circuit breaker to persons who rent. Matters concerning funding and alternatives to a circuit breaker may also be the subject of the committee’s study.

4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named house member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Four members of the committee shall constitute a quorum.

5 Report. The committee shall report its findings and any recommendations for proposed legislation to the speaker of the house of representatives, the president of the senate, the house clerk, the senate clerk, the governor, and the state library on or before November 1, 2007.

6 Effective Date. This act shall take effect upon its passage.