1 Applicability of the 2019 and 2021 Tax Period Reductions to Business Tax Rates; Contingency Added; Report.

I. By December 31, 2018, the legislative budget assistant, using the combined amount of revenue from the schedule of undesignated/unassigned fund balance for the general fund and education trust fund as contained in the audited comprehensive annual report performed pursuant to RSA 21-I:8, II(a), shall make a report to the secretary of state, the governor, speaker of the house of representatives, the senate president, the fiscal committee of the general court, the director of the office of legislative services, the commissioner of the department of revenue administration, and the commissioner of the department of administrative services, determining whether the rate of growth in the combined unrestricted general and education trust fund revenues collected for the fiscal year ending June 30, 2018 over the amount of combined unrestricted general and education trust fund revenue collected for the fiscal year ending June 30, 2017 is equal to or greater than the percent change in the Consumer Price Index for All Urban Consumers, Northeast Region, as published by the Bureau of Labor Statistics, United States Department of Labor plus one percent for the same 12-month period.

II. If the combined revenue growth determined under paragraph I is less than the Consumer Price Index for the period plus one percent then section 2 of this act shall take effect January 1, 2019 and the rate for the business profits tax under RSA 77-A:2 shall remain as 7.9 percent and the rate under the business enterprise tax under RSA 77-E:2 shall remain as .65 percent.

2 Contingent Repeal of Prospective Business Tax Rate Reductions. 2017, 156:213 through 2017, 156:217, relative to reductions to the business tax rates, are repealed.

3 Effective Date.

I. Section 2 of this act shall effect as provided in paragraph II of section 1 of this act.

II. The remainder of this act shall take effect upon its passage.

1 Applicability of the 2019 and 2021 Tax Period Reductions to Business Tax Rates; Contingency Added; Report.

I. By December 31, 2018, the legislative budget assistant, using the combined amount of revenue from the schedule of undesignated/unassigned fund balance for the general fund and education trust fund as contained in the audited comprehensive annual report performed pursuant to RSA 21-I:8, II(a), shall make a report to the secretary of state, the governor, speaker of the house of representatives, the senate president, the fiscal committee of the general court, the director of the office of legislative services, the commissioner of the department of revenue administration, and the commissioner of the department of administrative services, determining whether the rate of growth in the combined unrestricted general and education trust fund revenues collected for the fiscal year ending June 30, 2018 over the amount of combined unrestricted general and education trust fund revenue collected for the fiscal year ending June 30, 2017 is equal to or greater than the percent change in the Consumer Price Index for All Urban Consumers, Northeast Region, as published by the Bureau of Labor Statistics, United States Department of Labor plus one percent for the same 12-month period.

II. If the combined revenue growth determined under paragraph I is less than the Consumer Price Index for the period plus one percent then section 2 of this act shall take effect January 1, 2019 and the rate for the business profits tax under RSA 77-A:2 shall remain as 7.9 percent and the rate under the business enterprise tax under RSA 77-E:2 shall remain as .65 percent.

2 Contingent Repeal of Prospective Business Tax Rate Reductions. 2017, 156:213 through 2017, 156:217, relative to reductions to the business tax rates, are repealed.

3 Effective Date.

I. Section 2 of this act shall effect as provided in paragraph II of section 1 of this act.

II. The remainder of this act shall take effect upon its passage.