1 New Section; Property Taxation; Liability for Tax; Certain Electric Generation. Amend RSA 72 by inserting after section 74-a the following new section:

72:74-b Exemption From State Education Property Tax. In the case of an electric generating facility that is exempt from the utility property tax pursuant to RSA 83-F:1, V(g) and is making payments in lieu of taxes to a municipality pursuant to RSA 72:74, if the payment in lieu of tax agreement was in effect as of January 1, 2025, then the facility will not be liable for payment of the state education tax under RSA 76:3 until that payment in lieu of taxes agreement expires or until January 1, 2030, whichever occurs first. Once payment of the state education tax under RSA 76:3 is required, it may be included in a payment in lieu of taxes pursuant to a new agreement reached under RSA 72:74 or it may be paid in addition to a payment in lieu of taxes if the underlying agreement has not expired or been reopened and renegotiated. If the state education tax under RSA 76:3 is paid separately from the payment in lieu of taxes, then the amount of the state education tax owed by the facility shall be determined by using the imputed value of the facility that is calculated and used by the department of revenue administration for purposes of equalization under RSA 21-J:3, XIII.

2 New Subparagraph; Utility Property Tax; Definition of Utility Property; Exclusion Added. Amend RSA 83-F:1, V by inserting after subparagraph (f) the following new subparagraph:

(g) Property used for the purposes of generating electricity owned by entities defined in RSA 362:4-c, I.

3 New Subparagraph; Utility Property Tax; Payment Forms. Amend RSA 83-F:5, V by inserting after subparagraph (b) the following new subparagraph:

(c) As of May 1 of each year the owners of property exempted from the definition of utility property under RSA 83-F:1, V(g) shall file a form, designated by the commissioner, that collects sufficient information identifying utility and non-utility property and maintain an inventory of assets that are and are not subject to the utility property tax. The form shall be signed by an authorized representative, subject to the pains and penalties of perjury. If by May 1 the taxpayer is unable to file the form required under this subparagraph, the taxpayer shall request an extension from the department. Such extension shall be valid only upon written confirmation from the department, and shall not exceed 30 days per request. No more than 2 extensions shall be granted in a given tax year.

4 Reference Added; Utility Property Tax; Exemptions. Amend RSA 83-F:9 to read as follows:

83-F:9 Exemption From Education Tax. Persons and property subject to taxation under this chapter shall not be subject to tax under RSA 76:3; provided, however, that nothing in this chapter shall be construed to exempt such persons or property from local school, municipal, district, or county taxation under RSA 76 .

5 Effective Date. This act shall take effect January 1, 2025.

1 New Section; Property Taxation; Liability for Tax; Certain Electric Generation. Amend RSA 72 by inserting after section 74-a the following new section:

72:74-b Exemption From State Education Property Tax. In the case of an electric generating facility that is exempt from the utility property tax pursuant to RSA 83-F:1, V(g) and is making payments in lieu of taxes to a municipality pursuant to RSA 72:74, if the payment in lieu of tax agreement was in effect as of January 1, 2025, then the facility will not be liable for payment of the state education tax under RSA 76:3 until that payment in lieu of taxes agreement expires or until January 1, 2030, whichever occurs first. Once payment of the state education tax under RSA 76:3 is required, it may be included in a payment in lieu of taxes pursuant to a new agreement reached under RSA 72:74 or it may be paid in addition to a payment in lieu of taxes if the underlying agreement has not expired or been reopened and renegotiated. If the state education tax under RSA 76:3 is paid separately from the payment in lieu of taxes, then the amount of the state education tax owed by the facility shall be determined by using the imputed value of the facility that is calculated and used by the department of revenue administration for purposes of equalization under RSA 21-J:3, XIII.

2 New Subparagraph; Utility Property Tax; Definition of Utility Property; Exclusion Added. Amend RSA 83-F:1, V by inserting after subparagraph (f) the following new subparagraph:

(g) Property used for the purposes of generating electricity owned by entities defined in RSA 362:4-c, I.

3 New Subparagraph; Utility Property Tax; Payment Forms. Amend RSA 83-F:5, V by inserting after subparagraph (b) the following new subparagraph:

(c) As of May 1 of each year the owners of property exempted from the definition of utility property under RSA 83-F:1, V(g) shall file a form, designated by the commissioner, that collects sufficient information identifying utility and non-utility property and maintain an inventory of assets that are and are not subject to the utility property tax. The form shall be signed by an authorized representative, subject to the pains and penalties of perjury. If by May 1 the taxpayer is unable to file the form required under this subparagraph, the taxpayer shall request an extension from the department. Such extension shall be valid only upon written confirmation from the department, and shall not exceed 30 days per request. No more than 2 extensions shall be granted in a given tax year.

4 Reference Added; Utility Property Tax; Exemptions. Amend RSA 83-F:9 to read as follows:

83-F:9 Exemption From Education Tax. Persons and property subject to taxation under this chapter shall not be subject to tax under RSA 76:3; provided, however, that nothing in this chapter shall be construed to exempt such persons or property from local school, municipal, district, or county taxation under RSA 76 , except as provided inRSA 72:74-b .

5 Effective Date. This act shall take effect January 1, 2025.