Text to be removed highlighted in red.
1 Taxation; Apportionment, Assessment and Abatement of Taxes; 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 *$363,000,000when 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 Taxation; Apportionment, Assessment and Abatement of Taxes; Commissioner's Warrant. Amend RSA 76:8, II-III 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. Such sums shall be assessed at such times as may be prescribed for other taxes assessed by such selectmen or assessors of the municipality.
II-a. At the time the warrant is issued pursuant to paragraph II, the commissioner shall report to the governor, the speaker of the house of representatives, the president of the senate, and the commissioner of education, a statement of the education tax warrants to be issued for the tax year commencing April 1 of the succeeding year.
III. Municipalities are authorized to assesslocal property taxes necessary to fund school district *appropriationsnotfunded by the education tax, by distributions from the education trust fund under RSA 198:39, or by other revenue sources.
3 Education; Adequate Public Education; Cost of an Adequate Education. Amend RSA 193-E:2-b to read as follows:
193-E:2-b *Cost of an Adequate Education.
I. The *general court shall use the definition of the opportunity for an adequate education in RSA 193-E:2-a to determine the resources necessary to provide essential programs, considering educational needs. The general court shall make an initial determination of the necessary specific resource elements to be included in the opportunity for an adequate education.
(b) $4,000 per enrolled student qualifying for a free or reduced-price meal.
II. The required revenue amount under this section shall be increased annually at a rate of 2 percent.
II. III. The general court shall create a process for the periodic determination of the specific resource elements essential to providing the substantive educational content of an adequate education excellence in education grant. This review should occur no less frequently than every 10 years.
4 Repeals. The following are repealed:
I. RSA 198:40-f, relative to extraordinary need grants.
II. RSA 198:41, I(c), relative to calculations used to determine education grants.
5 Effective Date. This act shall take effect July 1, 2027.
Text to be added highlighted in green.
1 Taxation; Apportionment, Assessment and Abatement of Taxes; Education Tax. Amend RSA 76:3 to read as follows:
76:3 Education Tax. Beginning July 1, 2027 , 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 , based on the local real property tax assessment, of municipality for the use of the* department of revenue administration, to be remitted for distribution to municipalities for use in their local 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.
II-a. At the time the warrant is issued pursuant to paragraph II, the commissioner shall report to the governor, the speaker of the house of representatives, the president of the senate, and the commissioner of education, a statement of the education tax warrants to be issued for the tax year commencing April 1 of the succeeding year.
III. Municipalities are authorized to assess additional local property taxes necessary to fund school district Cost of an Adequate Education* Excellence in Education Grant .
I. The II.adequate education* excellence in education grant. This review should occur no less frequently than every 10 years.
4 Repeals. The following are repealed:
I. RSA 198:40-f, relative to extraordinary need grants.
II. RSA 198:41, I(c), relative to calculations used to determine education grants.
5 Effective Date. This act shall take effect July 1, 2027.