HB 739-FN - AS INTRODUCED
2025 SESSION
25-0778
07/08
HOUSE BILL739-FN
AN ACTrelative to excess funds paid to municipalities for the use of school districts.
SPONSORS:Rep. Spilsbury, Sull. 3
COMMITTEE:Ways and Means
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ANALYSIS
This bill requires municipalities to remit any excess statewide education property tax to the state for deposit in the general 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
25-0778
07/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
AN ACTrelative to excess funds paid to municipalities for the use of school districts.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Sections; Adequate Education; Excess Statewide Education Property Tax Payment. Amend RSA 198 by inserting after section 47 the following new sections:
198:47-a Excess Statewide Education Property Tax Payment.
I. Any excess statewide education property tax shall be remitted to the department of revenue administration on or before March 15 of the tax year in which the excess occurs.
II. The commissioner of the department of revenue administration shall collect from the municipality the excess tax and pay the excess tax over to the state treasurer for deposit in the education trust fund.
III. The amount of such excess to be remitted shall not include any income derived from the investment of funds by the municipal treasurers under RSA 41:29 and RSA 48:16. Any funds remaining after full payment of the excess tax required in paragraph I shall become available for unrestricted use by the municipality.
198:47-b Forms. The commissioner shall approve and provide forms relative to the reporting and remitting of excess statewide education property tax by the municipalities.
2 Education; School Money; Adequate Education; Education Trust Fund; Determination of Education Grants. Amend RSA 198:41, I(b) to read as follows:
(b) Subtract the amount of the education tax warrant to be issued by the commissioner of revenue administration for such municipality reported pursuant to RSA 76:8 for the next tax year, not including the amount of the education tax payment remitted back to the department of revenue administration under 198:47-a; and
3 Assessment of Education Tax; Commissioner's Warrant. Amend RSA 76:8, II 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 school district or districts, and, if there is an excess statewide education property tax payment due pursuant to RSA 198:47-a, directing them to assess the amount of the excess payment and pay it to the department of revenue administration for deposit in the education trust fund. Such sums shall be assessed at such times as may be prescribed for other taxes assessed by such selectmen or assessors of the municipality.
4 Education Trust Fund Created and Invested. Amend RSA 198:39, II(k) to read as follows:
(k) Funds collected and paid over to the to the state treasurer by the department of revenue administration pursuant to RSA 198:47-a.
(l) Any other moneys appropriated from the general fund.
5 Effective Date. This act shall take effect July 1, 2025.
LBA
25-0778
1/13/25
HB 739-FN- FISCAL NOTE
AS INTRODUCED
AN ACTrelative to excess funds paid to municipalities for the use of school districts.
FISCAL IMPACT:
The Office of Legislative Budget Assistant is unable to complete a fiscal note for this bill as it is awaiting information from the Department of Education. The Department was contacted on 1/6/25 for a fiscal note worksheet. When completed, the fiscal note will be forwarded to the House Clerk's Office.
AGENCIES CONTACTED:
Department of Education and Department of Revenue Administration