Revision: March 16, 2023, 12:19 p.m.
Rep. Lane, Merr. 16
March 14, 2023
2023-0985h
08/05
Amendment to HB 255
Amend the bill by replacing section 2 with the following:
2 New Section; Contribution by Limited Liability Company. Amend RSA 664 by inserting after section 4-b the following new section:
664:4-c Contribution by Limited Liability Company.
I. For the purpose of reporting contributions and determining whether a member of a limited liability company, as defined in RSA 304-C:14, has exceeded the contribution limits set forth in RSA 664:4, V, a contribution made by a domestic or foreign limited liability company shall be attributed to its member or members as if the contribution were made by those members on the basis of their percentage membership interests, and shall be attributed to those members for the purpose of reporting contributions and determining whether those members have exceeded the contribution limits set forth in RSA 664:4, V. For a single member limited liability company, the entire contribution shall be attributed to the member.
(a) If a member of a limited liability company is itself a limited liability company, then the portion of the contribution allocated to that member shall be allocated among its members on the basis of their percentage membership interests, and shall be attributed to those members for the purpose of reporting contributions and determining whether those members have exceeded the contribution limits set forth in RSA 664:4, V.
(b) If a member of a limited liability company is a corporation, then the portion of the contribution allocated to the corporation shall be attributed to the corporation for the purpose of reporting contributions and determining whether that corporation has exceeded its contribution limits under RSA 664:4, V.
II. When a limited liability company contributes, it shall provide the recipient of the contribution with the names and addresses of all members, and the names and addresses of all members of any member, and the amount of the contribution attributed to each member, or the member's members, as applicable.