HB1474 (2020) Detail

Relative to deductions from the business profits tax for investment in federal Opportunity Zones in New Hampshire.


HB 1474 - AS INTRODUCED

 

 

2020 SESSION

20-2549

10/08

 

HOUSE BILL 1474

 

AN ACT relative to deductions from the business profits tax for investment in federal Opportunity Zones in New Hampshire.

 

SPONSORS: Rep. Horn, Merr. 2

 

COMMITTEE: Ways and Means

 

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ANALYSIS

 

This bill establishes a deduction from gross business profits under the business profits tax for income invested in an Opportunity Zone located in New Hampshire as established under the Tax Cuts and Jobs Act.

 

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

20-2549

10/08

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty

 

AN ACT relative to deductions from the business profits tax for investment in federal Opportunity Zones in New Hampshire.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  New Paragraph; Business Profits Tax; Deduction; Federal Opportunity Zones.  Amend RSA 77-A:3 by inserting after paragraph XIX following new paragraph:

XX.  A deduction from gross business profits of income invested in a federal Opportunity Zone, as established by the Tax Cuts and Jobs Act, which is located in New Hampshire and for which capital gains are deferred or excluded from federal taxation.

2  Effective Date.  This act shall take effect July 1, 2020.

Links

HB1474 at GenCourtMobile
HB1474 Discussion

Action Dates

Date Body Type
Jan. 22, 2020 House Hearing
Feb. 4, 2020 House Exec Session
House Floor Vote
Feb. 19, 2020 House Floor Vote

Bill Text Revisions

HB1474 Revision: 7164 Date: Dec. 3, 2019, 10:13 a.m.

Docket

Date Status
Jan. 8, 2020 Introduced 01/08/2020 and referred to Ways and Means HJ 1 P. 23
Jan. 22, 2020 Public Hearing: 01/22/2020 11:00 am LOB 202
Feb. 4, 2020 Executive Session: 02/04/2020 01:00 pm LOB 202
Committee Report: Inexpedient to Legislate (Vote 20-0; CC)
Feb. 19, 2020 Committee Report: Inexpedient to Legislate for 02/19/2020 (Vote 20-0; CC) HC 7 P. 17
Feb. 19, 2020 Inexpedient to Legislate: MA VV 02/19/2020 HJ 4 P. 27