CHAPTER 113
SB 99 – FINAL VERSION
02/22/07 0163s
2007 SESSION
10/03
SENATE BILL 99
COMMITTEE: Public and Municipal Affairs
This bill allows for voluntary agreements for payment in lieu of taxes for renewable generation facilities to be for the period the parties agree is necessary for the financing of the project.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
02/22/07 0163s
07-1179
10/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seven
AN ACT relative to the terms for payment in lieu of taxes for renewable generation facilities.
Be it Enacted by the Senate and House of Representatives in General Court convened:
113:1 New Paragraph; Renewable Generation Facilities; Exception Added. Amend RSA 72:74, VI to read as follows:
VI. Except as provided in paragraph VII, no voluntary agreement entered into under this section shall be valid for more than 5 years; however, any such agreement may be renewed or amended and restated for any number of consecutive periods of 5 years or less.
VII. The owner of a renewable generation facility and the governing body of the municipality in which the facility is located may agree to a term exceeding 5 years if such term is necessary for the financing of the project or is otherwise advantageous to both parties and both parties agree to such term.
113:2 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 11, 2007
Effective: August 10, 2007