CHAPTER 237
SB 97 – FINAL VERSION
02/16/11 0154s
1June2011… 2005h
06/22/11 2411EBA
2011 SESSION
10/09
SENATE BILL 97
AN ACT relative to the application of the community revitalization tax relief incentive.
SPONSORS: Sen. Stiles, Dist 24; Sen. Gallus, Dist 1; Rep. Nevins, Rock 15; Rep. Waddell, Rock 15; Rep. K. Sullivan, Rock 15; Rep. Theberge, Coos 4
This bill allows for buildings which have been destroyed by fire or other act of nature to be included as a qualifying structure eligible for the community revitalization tax relief incentive.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
02/16/11 0154s
1June2011… 2005h
06/22/11 2411EBA
11-0958
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT relative to the application of the community revitalization tax relief incentive.
Be it Enacted by the Senate and House of Representatives in General Court convened:
237:1 Community Revitalization Tax Relief; Qualifying Structure. Amend RSA 79-E:2, I to read as follows:
I. “Qualifying structure” means a building located in a district officially designated in a municipality’s master plan, or by zoning ordinance, as a downtown, town center, central business district, or village center, or, where no such designation has been made, in a geographic area which, as a result of its compact development patterns and uses, is identified by the governing body as the downtown, town center, or village center for purposes of this chapter. Cities or towns may further limit “qualifying structure” according to the procedure in RSA 79-E:3 as meaning only a structure located within such districts that meet certain age, occupancy, condition, size, or other similar criteria consistent with local economic conditions, community character, and local planning and development goals. Cities or towns may further modify “qualifying structure” to include buildings that have been destroyed by fire or act of nature, including where such destruction occurred within 15 years prior to the adoption of the provisions of this chapter by the city or town.
237:2 New Subparagraph; Definition; Tax Relief. Amend RSA 79-E:2, III by inserting after subparagraph (b) the following new subparagraph:
(c) For a qualifying structure which is a building destroyed by fire or act of nature, that for a period of time determined by a local governing body in accordance with this chapter, the property tax on such qualifying structure shall not exceed the tax on the assessed value of the structure that would have existed had the structure not been destroyed.
237:3 Extent of Tax Relief. Amend RSA 79-E:13 to read as follows:
79-E:13 Extent of Tax Relief.
I.(a) Tax relief granted under this chapter shall pertain only to assessment increases attributable to the substantial rehabilitation performed under the conditions approved by the governing body and not to those increases attributable to other factors including but not limited to market forces; or
[II.] (b) Tax relief granted under this chapter shall be calculated on the value in excess of the original assessed value. Original assessed value shall mean the value of the qualifying structure assessed at the time the governing body approves the application for tax relief and the owner grants to the municipality the covenant to protect public benefit as required in this chapter, provided that for a qualifying structure which is a building destroyed by fire or act of nature, original assessed value shall mean the value as of the date of approval of the application for tax relief of the qualifying structure that would have existed had the structure not been destroyed.
[III.] II. The tax relief granted under this chapter shall only apply to substantial rehabilitation or replacement that commences after the governing body approves the application for tax relief and the owner grants to the municipality the covenant to protect the public benefit as required in this chapter, provided that in the case of a qualifying structure which is a building destroyed by fire or act of nature, and which occurred within 15 years prior to the adoption of the provisions of this chapter by the city or town, the tax relief may apply to such qualifying structure for which replacement has begun, but which has not been completed, on the date the application for relief under this chapter is approved.
237:4 Application. The authority conferred by this act shall apply retroactively to cities and towns that adopted the provisions of RSA 79-E in effect prior to the effective date of this act.
237:5 Effective Date. This act shall take effect upon its passage.
Approved: July 5, 2011
Effective Date: July 5, 2011