Revision: Nov. 26, 2023, 10:17 a.m.
2024 SESSION
24-2855.0
10/08
SENATE BILL [bill number]
SPONSORS: [sponsors]
COMMITTEE: [committee]
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ANALYSIS
This bill adds an exemption for the state education property tax for certain electric generating facility property subject to a payment in lieu of taxes as a renewable generation facility. The bill also transfers 50 percent of the annual communications services tax revenues to the education trust fund.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
24-2855.0
10/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Four
Be it Enacted by the Senate and House of Representatives in General Court convened:
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 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 in RSA 72:74-b.
4 Education Trust Fund; Communications Services Tax Revenues. Amend RSA 198:39, II(k) to read as follows:
(k) Fifty percent of the annual revenues collected from the communications services tax under RSA 82-A.
(l) Any other moneys appropriated from the general fund.
5 Effective Date. This act shall take effect January 1, 2025.