Revision: March 22, 2010, midnight
HB 1519 – AS AMENDED BY THE HOUSE
03Mar2010… 0540h
2010 SESSION
09/05
HOUSE BILL 1519
AN ACT repealing the surety bond requirement for meals and rentals operators.
COMMITTEE: Commerce and Consumer Affairs
This bill repeals the $5,000 surety bond requirement for meals and rentals operators.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03Mar2010… 0540h
10-2635
09/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Ten
AN ACT repealing the surety bond requirement for meals and rentals operators.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Repeal. RSA 78-A:8-b, I-a, relative to the $5,000 surety bond requirement for meals and rentals operators, is repealed.
2 Effective Date. This act shall take effect upon its passage.
LBAO
10-2635 Amended 03/18/10
HB 1519 FISCAL NOTE
AN ACT repealing the surety bond requirement for meals and rentals operators.
FISCAL IMPACT:
The Department of Revenue Administration states this bill, as amended by the House (Amendment #2010-0540h), will decrease state general fund revenues by $1,000,000 in FY 2010, by $1,500,000 in FY 2011 and each fiscal year thereafter. There will be no fiscal impact on county and local revenue or state, county and local expenditures.
METHODOLOGY:
The Department of Revenue Administration states this bill repeals the surety bond requirement for meals and rentals operators. The Department assumes the effective date of upon passage, would allow for the bill’s impact to be partially felt in FY 2010, and each year thereafter. The Department states the surety bond requirement was originally put into place to assist the Department in resolving accounts receivable balances for meals and rentals operators which would result in collecting $3,000,000 of additional state general fund revenue from the meals and rooms tax. The Department estimates the revenue decrease in FY 2010 at $1,000,000 by assuming only 1/3 would be lost the first year based on the bill’s effective date, and at $1,500,000 in future years due to increased compliance initiatives and greater utilization of current laws to reduce the outstanding accounts receivable problems that existed in the past.