HB 530-FN - AS INTRODUCED
2025 SESSION
25-0845
07/05
HOUSE BILL530-FN
AN ACTincreasing the amount of revenue transfered from the real estate transfer tax to the affordable housing fund.
SPONSORS:Rep. LaMontagne, Straf. 17; Rep. Damon, Sull. 8; Rep. Read, Rock. 10
COMMITTEE:Ways and Means
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ANALYSIS
This bill increases the amount of moneys transfered to the affordable housing fund from the real estate transfer tax.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
25-0845
07/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
AN ACTincreasing the amount of revenue transfered from the real estate transfer tax to the affordable housing fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Taxation; Tax on Transfer of Real Property; Distribution of Funds. Amend RSA 78-B:13, III to read as follows:
III. Annually, on or before October 1, the commissioner shall direct the state treasurer to transfer the sum of $10,000,000 [$5,000,000] from revenue collected pursuant to the tax imposed by RSA 78-B:1 to the affordable housing fund established in RSA 204-C:57.
2 Effective Date. This act shall take effect upon its passage.
LBA
25-0845
12/19/24
HB 530-FN- FISCAL NOTE
AS INTRODUCED
AN ACTincreasing the amount of revenue transferred from the real estate transfer tax to the affordable housing fund.
FISCAL IMPACT:
Estimated State Impact
FY 2025 FY 2026 FY 2027 FY 2028
Revenue $0 Increase of $5,000,000 to Affordable Housing Fund Decrease of ($3,350,000) to General FundDecrease of ($1,650,000 to Education Trust Fund
Revenue Fund(s) General Fund and Education Trust Fund and Affordable Housing Fund
Expenditures* $0 $0 $0 $0
Funding Source(s) None
Appropriations* $0 $0 $0 $0
Funding Source(s) None
*Expenditure = Cost of bill *Appropriation = Authorized funding to cover cost of bill
Estimated State Impact
FY 2025
FY 2026
FY 2027
FY 2028
Revenue
$0
Increase of $5,000,000 to Affordable Housing Fund
Decrease of ($3,350,000) to General Fund
Decrease of ($1,650,000 to Education Trust Fund
Revenue Fund(s)
General Fund and Education Trust Fund and Affordable Housing Fund
Expenditures*
$0
$0
$0
$0
Funding Source(s)
None
Appropriations*
$0
$0
$0
$0
Funding Source(s)
None
*Expenditure = Cost of bill *Appropriation = Authorized funding to cover cost of bill
METHODOLOGY:
This bill increases the amount of Real Estate Transfer Tax revenue transferred to the Affordable Housing Fund from $5,000,000 to $10,000,000. As a result of this increased transfer, revenue deposited into the General Fund and Education Trust Fund will decrease by a total of $5,000,000. Approximately 67% of the Real Estate Transfer Tax revenue is deposited into the General Fund and 33% to the Education Trust Fund. Therefore, the decrease to each fund is approximately $3,350,000 to the General Fund and $1,650,000 to the Education Trust Fund.
AGENCIES CONTACTED:
None