HB1221 (2022) Detail

(Third New Title) relative to the rate of the business profits tax, and relative to payment by the state to political subdivisions of an amount equal to a portion of retirement system contributions of political subdivision employers.


CHAPTER 189

HB 1221-FN - FINAL VERSION

 

17Mar2022... 0471h

04/21/2022   1528s

05/05/2022   1840s

26May2022... 2050CofC

 

2022 SESSION

22-2291

10/05

 

HOUSE BILL 1221-FN

 

AN ACT relative to the rate of the business profits tax, and relative to payment by the state to political subdivisions of an amount equal to a portion of retirement system contributions of political subdivision employers.

 

SPONSORS: Rep. Notter, Hills. 21; Rep. Turcotte, Straf. 4; Rep. Osborne, Rock. 4; Rep. Abramson, Rock. 37; Rep. Mooney, Hills. 21; Rep. Hobson, Rock. 35; Rep. Potucek, Rock. 6; Rep. Healey, Hills. 21

 

COMMITTEE: Ways and Means

 

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AMENDED ANALYSIS

 

This bill reduces the rate of the business profits tax for tax years ending on or after December 31, 2023.  This bill also provides for a one-time payment by the state of an amount equal to 7.5 percent of required political subdivision employer contributions made to the state retirement system for group I teachers and group II members.

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

17Mar2022... 0471h

04/21/2022   1528s

05/05/2022   1840s

26May2022... 2050CofC 22-2291

10/05

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty Two

 

AN ACT relative to the rate of the business profits tax, and relative to payment by the state to political subdivisions of an amount equal to a portion of retirement system contributions of political subdivision employers.

 

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

 

189:1  New Paragraph; Business Profits Tax; Imposition of Rate; Rate Reduced 2023.  Amend RSA 77-A:2 by inserting after paragraph II the following new paragraph:

III.  For all taxable periods ending on or after December 31, 2023, a tax is imposed at the rate of 7.5 percent upon the taxable business profits of every business organization.

189:2  Short Title.  Section 4 of this act may be known as the “Property Tax Relief Act of 2022.”

189:3  Legislative Findings.

I.  New Hampshire’s working families and small businesses are struggling with a 40-year high inflation rate that has had a devastating impact on the price of gasoline, home heating, and food resulting from policies adopted in Washington, D.C. since January 2021.

II.  Prior to January of 2021, the price of gasoline was approximately half of what it is today and now has steadily risen over the past 15 months.

III.  Because of sound budget policies that controlled spending and made New Hampshire’s business tax climate more competitive, state revenues are currently $252 million above budget projections, enabling the legislature to share the state’s projected budget surplus with cities and towns in order to lower local property taxes.

189:4  Local Property Tax Reduction.  A one-time appropriation of state surplus funds is hereby granted to each political subdivision of the state in accordance with section 5 of this act.  It is the intent of the legislature that this will result in a one-time reduction in local property taxes without increasing state or local baseline spending.

189:5  Retirement System Costs; State Funding; Appropriation.  For the state fiscal year ending June 30, 2023, the state shall pay to each political subdivision an amount equal to 7.5 percent of both the normal and accrued liability contributions of each political subdivision for benefits under the retirement system on account of its group II members and group I teacher members.  The board of trustees of the retirement system shall certify the amount required for each such state payment based on actual payroll data from the fiscal year ending June 30, 2022, and the total amount of the state grants, to the treasurer.  The governor is authorized to draw a warrant for the total sum of these one-time grants out of any money in the treasury not otherwise appropriated.  

189:6  Repeal.  RSA 100-A:16, II(c-1) relative to employer contributions for fiscal year 2012, is repealed.

189:7  Effective Date.  

I.  Section 1 of this act shall take effect upon its passage.

II.  The remainder of this act shall take effect July 1, 2022.

 

Approved: June 17, 2022

Effective Date:

I. Section 1 effective June 17, 2022

II. Remainder effective July 1, 2022

 

 

Links


Date Body Type
Jan. 13, 2022 House Hearing
March 9, 2022 House Exec Session
House Floor Vote
March 17, 2022 House Floor Vote
March 30, 2022 Senate Hearing
April 6, 2022 Senate Hearing
April 21, 2022 Senate Floor Vote
May 5, 2022 Senate Floor Vote
May 26, 2022 Senate Floor Vote
May 26, 2022 Senate Floor Vote
May 26, 2022 House Floor Vote

Bill Text Revisions

HB1221 Revision: 36693 Date: June 21, 2022, 3:50 p.m.
HB1221 Revision: 36535 Date: May 26, 2022, 11:32 a.m.
HB1221 Revision: 36446 Date: May 19, 2022, 2:16 p.m.
HB1221 Revision: 36223 Date: May 18, 2022, 10:28 a.m.
HB1221 Revision: 35912 Date: April 26, 2022, 4:25 p.m.
HB1221 Revision: 35858 Date: April 21, 2022, 5:47 p.m.
HB1221 Revision: 35625 Date: April 13, 2022, 4:07 p.m.
HB1221 Revision: 35556 Date: March 31, 2022, 3:25 p.m.
HB1221 Revision: 35393 Date: March 25, 2022, 4:36 p.m.
HB1221 Revision: 35218 Date: March 10, 2022, 10:20 a.m.
HB1221 Revision: 33881 Date: Nov. 18, 2021, 1:55 p.m.

Docket


June 22, 2022: Signed by Governor Sununu 06/17/2022; Chapter 189; I. Sec 1 eff. 06/17/2022 II. Rem eff. 07/01/2022 HJ 14


June 7, 2022: Enrolled (in recess of) 05/26/2022 HJ 14


June 6, 2022: Enrolled Adopted, VV, (In recess 05/26/2022); SJ 13


May 26, 2022: Conference Committee Report 2022-2050c: Adopted, VV 05/26/2022 HJ 14


May 26, 2022: Conference Committee Report # 2022-2050c; RC 24Y-0N, Adopted; 05/26/2022; SJ 13


May 19, 2022: Conference Committee Report Filed, # 2022-2050c; 05/26/2022 SJ 13


May 18, 2022: Conferee Change; Senator Daniels Replaces Senator D'Allesandro; SJ 13


May 18, 2022: Conference Committee Meeting: 05/18/2022 11:00 am LOB 202-204


May 12, 2022: President Appoints: Senators Giuda, Bradley, D'Allesandro; 05/12/2022; SJ 12


May 12, 2022: Sen. Giuda Accedes to House Request for Committee of Conference, MA, VV; 05/12/2022; SJ 12


May 10, 2022: House Non-Concurs with Senate Amendment 2022-1840s 2022-1528s and Requests CofC (Reps. Abrami, Bershtein, Janigian, Lang): MA VV 05/05/2022 HJ 12


May 5, 2022: Ought to Pass with Amendment 2022-1840s: Remainder of the bill with the effective date, MA, VV; OT3rdg; 05/05/2022; SJ 11


May 5, 2022: Ought to Pass with Amendment 2022-1840s: Sections 1, 3, and 7, RC 14Y-10N, MA; 05/05/2022; SJ 11


May 5, 2022: The Chair ruled the Question Divisible; 05/05/2022; SJ 11


May 5, 2022: Sections Remainder as Amended and effective date, MA;VV;OT3rdg; 05/05/2022; SJ 11


May 5, 2022: Sections Sections 1; 3 and 7, RC 14Y-10N, MA; 05/05/2022 SJ 11


May 5, 2022: Sections Sections 1; 3 and 7, RC 14Y-10N, MA; 05/05/2022 SJ 11


May 5, 2022: Sen. Soucy Moved to divide the Question on the motion of Ought to Pass with Amendment: Sections 1, 3, and 7 and then the remainder of the bill as amended with the effective date; 05/05/2022; SJ 11


May 5, 2022: The Chair ruled the Question Divisible; 05/05/2022; SJ 11


May 5, 2022: Sen. Soucy Moved to divide the Question on Sections 1: 3 and 7, Remainder with Effective Date; 05/05/2022; SJ 11


May 5, 2022: Committee Amendment # 2022-1840s, AA, VV; 05/05/2022; SJ 11


May 5, 2022: Committee Amendment # 2022-1840s, AA, VV; 05/05/2022; SJ 11


May 5, 2022: Ought to Pass: RC 2022-1840, MA; OT3rdg; 05/05/2022; SJ 11


April 26, 2022: Committee Report: Ought to Pass with Amendment # 2022-1840s, 05/05/2022; SC 18


April 21, 2022: Ought to Pass with Amendment 2022-1528s: Remainder of the bill with the effective date , RC 24Y-0N, MA; Refer to Finance Rule 4-5; 04/21/2022; SJ 9


April 21, 2022: Ought to Pass with Amendment 2022-1528s: Sections 1, 3, and 7, RC 14Y-10N, MA; 04/21/2022; SJ 9


April 21, 2022: The Chair ruled the Question Divisible; 04/21/2022; SJ 9


April 21, 2022: Sen. Soucy Moved to divide the Question on the motion of Ought to Pass with Amendment: Sections 1, 3, and 7 and then the remainder of the bill as amended with the effective date; 04/21/2022; SJ 9


April 21, 2022: Committee Amendment #2022-1528s: Remainder of Amendment with the effective date, RC 24Y-0N, AA; 04/21/2022; SJ 9


April 21, 2022: Committee Amendment #2022-1528s: Sections 3 and 7, RC 14Y-10N, AA; 04/21/2022; SJ 9


April 21, 2022: The Chair ruled the Question Divisible; 04/21/2022; SJ 9


April 21, 2022: Sen. Soucy Moved to divide the Question on Committee Amendment #2022-1528s: Sections 3 and 7 and then the remainder of the amendment with the effective date; 04/21/2022; SJ 9


April 21, 2022: Without Objection, Rule 3-17 is Suspended to Allow Non-Germane Amendment # 2022-1528s; 2/3 Necessary, MA; 04/21/2022; SJ 9


April 21, 2022: Chair Ruled Sections of Amendment # 2022-1528s Non-Germane, 04/21/2022; SJ 9


April 21, 2022: Without Objection, Rule 3-17 is Suspended to Allow Non-Germane Amendment # 2022-1528s; 2/3 Necessary, MA; 04/21/2022; SJ 9


April 13, 2022: Committee Report: Ought to Pass with Amendment # 2022-1528s, 04/21/2022; SC 16


March 31, 2022: Hearing: 04/06/2022, Room 101, LOB, 10:00 am, on proposed amendment # 2022-1294s; SC 14


March 24, 2022: Hearing: 03/30/2022, Room 100, SH, 10:15 am; SC 13


March 22, 2022: Introduced 03/17/2022 and Referred to Ways and Means; SJ 6


March 18, 2022: Ought to Pass with Amendment 2022-0471: MA RC 177-141 03/17/2022 HJ 8


March 18, 2022: Amendment # 2022-0471h (NT): AA RC 227-99 03/17/2022 HJ 8


March 18, 2022: Special Order HB1221 (Rep. Osborne): MA VV 03/17/2022 HJ 8


March 10, 2022: Minority Committee Report: Inexpedient to Legislate


March 10, 2022: Majority Committee Report: Ought to Pass with Amendment # 2022-0471h (Vote 12-11; RC)


March 2, 2022: Executive Session: 03/09/2022 10:00 am LOB 202-204


Feb. 19, 2022: Full Committee Work Session: 02/24/2022 09:30 am LOB 202-204


Feb. 3, 2022: Full Committee Work Session: 02/10/2022 09:30 am LOB 202-204


Jan. 26, 2022: Full Committee Work Session: 02/02/2022 09:00 am LOB 202-204


Jan. 19, 2022: Full Committee Work Session: 01/26/2022 09:30 am LOB 202-204


Jan. 8, 2022: Public Hearing: 01/13/2022 10:15 am LOB 202-204


Nov. 18, 2021: Introduced 01/05/2022 and referred to Ways and Means