Text to be removed highlighted in red.
1 New Sections; Adequate Education; Excess Statewide Education Property Tax Payment. Amend RSA 198 by inserting after section 47 the following new sections:
198:47-a Excess Statewide Education Property Tax Payment.
I. Any excess statewide education property tax shall be remitted to the department of revenue administration on or before March 15 of the tax year in which the excess occurs.
II. The commissioner of the department of revenue administration shall collect from the municipality the excess tax and pay the excess tax over to the state treasurer for deposit in the education trust fund.
III. The amount of such excess to be remitted shall not include any income derived from the investment of funds by the municipal treasurers under RSA 41:29 and RSA 48:16. Any funds remaining after full payment of the excess tax required in paragraph I shall become available for unrestricted use by the municipality.
198:47-b Forms. The commissioner shall approve and provide forms relative to the reporting and remitting of excess statewide education property tax by the municipalities.
2 New Paragraph; Determination of Education Grants and Excess Statewide Education Tax. Amend RSA 198:41, I(b) by inserting after paragraph II the following new paragraph:
(b) Subtract the amount of the education tax warrant to be issued by the commissioner of revenue administration for such municipality reported pursuant to RSA 76:8 for the next tax year ; and
3 Assessment of Education Tax; Commissioner's Warrant. Amend RSA 76:8, II to read as follows:
II. The commissioner shall issue a warrant under the commissioner's hand and official seal for the amount computed in paragraph I to the selectmen or assessors of each municipality by December 15 directing them to assess such sum and pay it to the municipality for the use of the school district or districts . Such sums shall be assessed at such times as may be prescribed for other taxes assessed by such selectmen or assessors of the municipality.
4 Education Trust Fund Created and Invested. Amend RSA 198:39, II(k) to read as follows:
(k)
Any other moneys appropriated from the general fund.
5 Effective Date. This act shall take effect July 1, 2024.
Text to be added highlighted in green.
1 New Sections; Adequate Education; Excess Statewide Education Property Tax Payment. Amend RSA 198 by inserting after section 47 the following new sections:
198:47-a Excess Statewide Education Property Tax Payment.
I. Any excess statewide education property tax shall be remitted to the department of revenue administration on or before March 15 of the tax year in which the excess occurs.
II. The commissioner of the department of revenue administration shall collect from the municipality the excess tax and pay the excess tax over to the state treasurer for deposit in the education trust fund.
III. The amount of such excess to be remitted shall not include any income derived from the investment of funds by the municipal treasurers under RSA 41:29 and RSA 48:16. Any funds remaining after full payment of the excess tax required in paragraph I shall become available for unrestricted use by the municipality.
198:47-b Forms. The commissioner shall approve and provide forms relative to the reporting and remitting of excess statewide education property tax by the municipalities.
2 New Paragraph; Determination of Education Grants and Excess Statewide Education Tax. Amend RSA 198:41, I(b) by inserting after paragraph II the following new paragraph:
(b) Subtract the amount of the education tax warrant to be issued by the commissioner of revenue administration for such municipality reported pursuant to RSA 76:8 for the next tax year , not including the amount of the education tax payment remitted back to the department of revenue administration under 198:47-a ; and
3 Assessment of Education Tax; Commissioner's Warrant. Amend RSA 76:8, II to read as follows:
II. The commissioner shall issue a warrant under the commissioner's hand and official seal for the amount computed in paragraph I to the selectmen or assessors of each municipality by December 15 directing them to assess such sum and pay it to the municipality for the use of the school district or districts and, if there is an excess statewide education property tax payment due pursuant toRSA 198:47-a, directing them to assess the amount of the excess payment and pay it to the department of revenue administration for deposit in the education trust fund . Such sums shall be assessed at such times as may be prescribed for other taxes assessed by such selectmen or assessors of the municipality.
4 Education Trust Fund Created and Invested. Amend RSA 198:39, II(k) to read as follows:
(k) Funds collected and paid over to the to the state treasurer by the department of revenue administration pursuant toRSA 198:47-a.
(l) Any other moneys appropriated from the general fund.
5 Effective Date. This act shall take effect July 1, 2024.