Text to be removed highlighted in red.
1 Assessment; Education Tax. Amend RSA 76:3 to read as follows:
76:3 Education Tax. Beginning July 1, 2005, and every fiscal year thereafter, the commissioner of the department of revenue administration shall set the education tax rate at a level sufficient to generate revenue of $363,000,000 when imposed on all persons and property taxable pursuant to RSA 76:8, except property subject to tax under RSA 82 and RSA 83-F. The education property tax rate shall be effective for the following fiscal year. The rate shall be set to the nearest 1/2 cent necessary to generate the revenue required in this section.
2 New Section; Excess Revenue from Games of Chance. Amend RSA 76 by inserting after section 3 the following new section:
76:3-a Excess Revenue from Games of Chance. The commissioner of the department of revenue administration shall reduce the level of revenue required to be generated under RSA 76:3 by the amount of revenue paid to the education trust fund under 287-D:20, minus $6,600,000, which is the estimated amount paid in state 2023 fiscal year.
3 Effective Date. This act shall take effect July 1, 2024.
Text to be added highlighted in green.
1 Assessment; Education Tax. Amend RSA 76:3 to read as follows:
76:3 Education Tax. Beginning July 1, 2005, and every fiscal year thereafter, the commissioner of the department of revenue administration shall set the education tax rate at a level sufficient to generate revenue of $363,000,000 , less any amount underRSA 76:3-a, when imposed on all persons and property taxable pursuant to RSA 76:8, except property subject to tax under RSA 82 and RSA 83-F. The education property tax rate shall be effective for the following fiscal year. The rate shall be set to the nearest 1/2 cent necessary to generate the revenue required in this section.
2 New Section; Excess Revenue from Games of Chance. Amend RSA 76 by inserting after section 3 the following new section:
76:3-a Excess Revenue from Games of Chance. The commissioner of the department of revenue administration shall reduce the level of revenue required to be generated under RSA 76:3 by the amount of revenue paid to the education trust fund under 287-D:20, minus $6,600,000, which is the estimated amount paid in state 2023 fiscal year.
3 Effective Date. This act shall take effect July 1, 2024.