CHAPTER 219
HB 1615 – FINAL VERSION
03Feb2010… 0144h
05/13/10 1984s
2010 SESSION
09/04
HOUSE BILL 1615
AN ACT relative to the determination of value and a notice requirement for purposes of the utility property tax.
This bill requires utility property to be appraised at market value for purposes of the utility property tax. The bill requires the commissioner of the department of revenue administration to hold a single public hearing annually prior to performing assessments for valuation of utility property. The bill also changes a notice requirement to the department of revenue administration for transfers of utility property or assets.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03Feb2010… 0144h
05/13/10 1984s
10-2681
09/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Ten
AN ACT relative to the determination of value and a notice requirement for purposes of the utility property tax.
Be it Enacted by the Senate and House of Representatives in General Court convened:
219:1 Findings and Intent. It is the intent of the general court to assess all properties in the state in a proportional and equitable manner. It is further the intent of the general court that RSA 83-F shall govern the valuation of utilities for purposes of the utility property tax administered by the commissioner of the department of revenue administration. The general court recognizes the requirement in RSA 83-F for rulemaking by the department of revenue administration and mandates the department to initiate the rulemaking process in the shortest time possible. Nothing in this act is intended to restrict the ability of any municipality to independently assess utility property for the purpose of locally administered municipal, county, school, or district taxes.
219:2 Determination of Value. Amend RSA 83-F:3 to read as follows:
83-F:3 Determination of Value. On or before December 1 of the tax year, the commissioner shall determine the market value of utility property for the purposes of this chapter by [appraising such property at its full and true value] utilizing generally accepted appraisal methods and techniques. Market value means the property’s full and true value as defined under RSA 75:1. In the case of regulated public utilities as defined in RSA 362:2, the commissioner shall hold a single public hearing annually prior to performing assessments, in order to receive public input on assessments under this chapter. Notice of such determination shall be given to the taxpayer within 15 days of the commissioner’s determination.
219:3 Returns and Declarations. Amend RSA 83-F:5, VIII to read as follows:
VIII. No later than 30 days [prior to an anticipated] subsequent to the sale or transfer of a utility’s property or assets, the taxpayer [responsible for the previous year’s utility tax filing under this chapter,] acquiring such property or assets shall notify the department in writing. Such notice shall include the name and address of the [anticipated] grantee, the date of the [anticipated] transfer, and all the terms of transaction.
219:4 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 28, 2010
Effective Date: August 27, 2010