Revision: Feb. 25, 2009, midnight
HB 223-FN-LOCAL – AS AMENDED BY THE HOUSE
18Feb2009… 0289h
2009 SESSION
10/09
HOUSE BILL 223-FN-LOCAL
AN ACT changing the effective date for the implementation of the retirement system employer assessments for excess benefits.
SPONSORS: Rep. P. McMahon, Merr 3; Sen. Fuller Clark, Dist 24
COMMITTEE: Executive Departments and Administration
This bill delays the effective date for the assessment of the retirement system employer assessments for excess benefits under RSA 100-A:16, III-a, and allows the commissioner of revenue administration to remove appropriations for excess benefit costs from the 2009 property tax rate computation of a town or city.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
18Feb2009… 0289h
09-0376
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nine
AN ACT changing the effective date for the implementation of the retirement system employer assessments for excess benefits.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Employer Assessments for Excess Benefits; Change to Effective Date. Amend 2008, 300:35 to read as follows:
300:35 Effective Date.
I. Sections 9-12, and 14 of this act shall take effect July 1, 2009.
II. [Sections 1, 33, and 34] Section 1 of this act shall take effect 60 days after its passage.
III. Sections 2-4, 15, and RSA 100-A:14-a as inserted by section 17 of this act, and RSA 100-A:15, I, III, IV, V, VIII, and X as inserted by section 18 of this act shall take effect July 1, 2008.
IV. Section 16 of this act shall take effect July 1, 2008 at 12:01 a.m.
V. RSA 100-A:14-b as inserted by section 17 of this act and RSA 100-A:15, II, II-a, VI, VII, and IX as inserted by section 18 of this act shall take effect January 1, 2009.
VI. Sections 19 and 20 of this act shall take effect June 30, 2008.
VII. Sections 33 and 34 of this act shall take effect July 1, 2010.
VIII. The remainder of this act shall take effect upon its passage.
2 Commissioner of Revenue Administration; Tax Rates. For the 2009 property tax rate computation pursuant to RSA 21-J:35, upon written request of the governing body, the commissioner of the department of revenue administration shall remove any appropriation that was in the adopted budget to fund the provisions of RSA 100-A:16, III-a.
3 Effective Date. This act shall take effect August 29, 2008.
LBAO
09-0376
Amended 02/23/09
HB 223 FISCAL NOTE
AN ACT changing the effective date for the implementation of the retirement system employer assessments for excess benefits.
FISCAL IMPACT:
The New Hampshire Retirement System states this bill, as amended by the House (Amendment #2009-0289h), may decrease state, county, and local expenditures by an indeterminable amount in FY 2009 and FY 2010. There is no fiscal impact on state, county, and local revenue.
METHODOLOGY:
The New Hampshire Retirement System states this bill delays the effective date for the implementation of the employer assessments for excess benefits under RSA 100-A:16, III-a until July 1, 2010 and allows the commissioner of revenue administration to remove any appropriations for excess benefit costs from the 2009 property tax computation of a municipality. RSA 100-A:16, III-a creates a surcharge to employers when their employees retire and the employee’s 3 year average base pay is greater than 125 percent of the employee’s actual average final compensation. To the extent individual System employers would have had higher contribution rates due to the excess benefit assessments, employers may experience a decrease in expenditures through July 1, 2010 as a result of the delay in effective date.