HB423 (2007) Detail

Allowing municipalities to adopt a business incentive property tax credit.






AN ACT allowing municipalities to adopt a business incentive property tax credit.

SPONSORS: Rep. Mulholland, Graf 10; Rep. Solomon, Graf 10

COMMITTEE: Municipal and County Government


This bill enables towns and cities to adopt a property tax credit for businesses substantially upgrading their property in a manner which benefits the economy of the municipality.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.




In the Year of Our Lord Two Thousand Seven

AN ACT allowing municipalities to adopt a business incentive property tax credit.

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

1 New Subdivision; Business Incentive Credit. Amend RSA 72 by inserting after section 74 the following new subdivision:

Business Incentive Credit

72:75 Definition In this subdivision, “business” means any owner of property subject to local property taxation which is used for industrial or commercial purposes, or as defined in local zoning ordinances, and is not used as a principal place of residence for the owner.

72:76 Business Incentive Property Tax Credit.

I. A town or city may adopt, modify, or rescind a business incentive property tax credit, according to the procedures in RSA 72:27-a.

II. Procedures for application, decision, and appeal shall be governed by RSA 72:33, RSA 72:34, and RSA 72:34-a. The commissioner of revenue administration may adopt rules pursuant to RSA 541-A for the interpretation, construction, and uniform observance and enforcement of the business incentive property tax credit.

III. The municipality shall specify the amount of the tax credit and the number of years the tax credit shall be granted to a business undertaking a substantial upgrade to its facility or its property which is determined by the selectmen or assessors to benefit the economy in the municipality. The adoption of the business incentive tax credit shall reference zoning use category definitions, if applicable. Once adopted by the local legislative body, the credit amount and duration of the credit shall be granted uniformly within that municipality to all eligible businesses for which a proper application is filed.

2 Business Incentive Credit; Adoption Procedure; Reference Added. Amend the introductory paragraph of RSA 72:27-a, I to read as follows:

I. Any town or city may adopt the provisions of RSA 72:28, RSA 72:29-a, RSA 72:35, RSA 72:37, RSA 72:37-b, RSA 72:38-b, RSA 72:39-a, RSA 72:62, RSA 72:66, [or] RSA 72:70, or RSA 72:76 in the following manner:

3 Effective Date. This act shall take effect April 1, 2007.


HB423 at GenCourtMobile

Action Dates

Date Body Type

Bill Text Revisions

HB423 Revision: 10690 Date: Jan. 11, 2010, midnight