1 Meals and Rooms Tax; Allowance for Operators. Amend RSA 78-A:7, III to read as follows:

III. To compensate operators for keeping the prescribed records and the proper account and remitting of taxes by them, operators are allowed to retain 3 percent not to exceed $100 per month of the taxes due and to be remitted if the return and payment are timely received by the department of revenue administration, as provided in RSA 78-A:8, III.

2 Meals and Rooms Tax; Disposition of Revenue. Amend the introductory paragraph of RSA 78-A:26, I to read as follows:

I. Beginning on July 1, 1995, and for each fiscal year thereafter, the department shall pay over all revenue, except revenues identified in paragraph paragraphs III and IV of this section, collected under this chapter to the state treasurer. On or before September 15 of each year, the department shall determine the cost of administration of this chapter for the fiscal year ending on the preceding June 30, and it shall notify the state treasurer of these costs by a report certified by them as to correctness. After deducting the cost of administration of the chapter from the total income, the state treasurer shall distribute the net income as follows:

3 New Paragraph; Meals and Rooms Tax; Disposition of Revenue; School Building Aid Grants. Amend RSA 78-A:26 by inserting after paragraph III the following new paragraph:

IV. Beginning on July 1, 2018, and for each fiscal year thereafter, the department shall pay an amount equal to the difference between the total amount retained by operators under RSA 78-A:7, III and the total amount which would be realized if operators retained 3 percent of taxes due and to be remitted for deposit in the department of education school building aid fund established in RSA 198:15-a, V, for the purpose of funding school building aid grants under RSA 198:15-a.

4 School Building Aid Fund Established. Amend RSA 198:15-a, IV to read as follows:

IV. Beginning July 1, 2013, and every fiscal year thereafter, school building aid grants for construction or renovation projects approved by the department of education shall not exceed $50,000,000 per fiscal year less any debt service payments owed in the fiscal year, unless otherwise provided by an act of the general court. School building aid grants shall be funded from appropriations in the state operating budget and from the school building aid fund established in paragraph V, and no state bonds shall be authorized or issued for the purpose of funding such school building aid.

V. There is hereby established the school building aid fund to be used for the purpose of funding school building aid grants under paragraph IV. This fund shall consist of meals and rooms tax revenue paid pursuant to RSA 78-A:26, IV. This fund shall be nonlapsing and continually appropriated to the department of education.

5 New Subparagraph; Special Fund. Amend RSA 6:12, I(b) by inserting after subparagraph (339) the following new subparagraph:

(340) Meals and rooms tax revenues collected under RSA 78-A:26, IV, which shall be deposited in the school building aid fund established under RSA 198:15-a, V.

6 Effective Date. This act shall take effect July 1, 2018.

1 Meals and Rooms Tax; Allowance for Operators. Amend RSA 78-A:7, III to read as follows:

III. To compensate operators for keeping the prescribed records and the proper account and remitting of taxes by them, operators are allowed to retain 3 percent not to exceed $100 per month of the taxes due and to be remitted if the return and payment are timely received by the department of revenue administration, as provided in RSA 78-A:8, III.

2 Meals and Rooms Tax; Disposition of Revenue. Amend the introductory paragraph of RSA 78-A:26, I to read as follows:

I. Beginning on July 1, 1995, and for each fiscal year thereafter, the department shall pay over all revenue, except revenues identified in paragraphs III and IV of this section, collected under this chapter to the state treasurer. On or before September 15 of each year, the department shall determine the cost of administration of this chapter for the fiscal year ending on the preceding June 30, and it shall notify the state treasurer of these costs by a report certified by them as to correctness. After deducting the cost of administration of the chapter from the total income, the state treasurer shall distribute the net income as follows:

3 New Paragraph; Meals and Rooms Tax; Disposition of Revenue; School Building Aid Grants. Amend RSA 78-A:26 by inserting after paragraph III the following new paragraph:

IV. Beginning on July 1, 2018, and for each fiscal year thereafter, the department shall pay an amount equal to the difference between the total amount retained by operators under RSA 78-A:7, III and the total amount which would be realized if operators retained 3 percent of taxes due and to be remitted for deposit in the department of education school building aid fund established in RSA 198:15-a, V, for the purpose of funding school building aid grants under RSA 198:15-a.

4 School Building Aid Fund Established. Amend RSA 198:15-a, IV to read as follows:

IV. Beginning July 1, 2013, and every fiscal year thereafter, school building aid grants for construction or renovation projects approved by the department of education shall not exceed $50,000,000 per fiscal year less any debt service payments owed in the fiscal year, unless otherwise provided by an act of the general court. School building aid grants shall be funded from appropriations in the state operating budget and from the school building aid fund established in paragraph V, and no state bonds shall be authorized or issued for the purpose of funding such school building aid.

V. There is hereby established the school building aid fund to be used for the purpose of funding school building aid grants under paragraph IV. This fund shall consist of meals and rooms tax revenue paid pursuant to RSA 78-A:26, IV. This fund shall be nonlapsing and continually appropriated to the department of education.

5 New Subparagraph; Special Fund. Amend RSA 6:12, I(b) by inserting after subparagraph (339) the following new subparagraph:

(340) Meals and rooms tax revenues collected under RSA 78-A:26, IV, which shall be deposited in the school building aid fund established under RSA 198:15-a, V.

6 Effective Date. This act shall take effect July 1, 2018.