HB 542-FN-A - FINAL VERSION
16june99.....1317h
16june99.....1404h
1/13/00.....2090s
4/6/00.....4033s
5/18/00.....4584s
2000 SESSION
09/10
HOUSE BILL 542-FN-A
AN ACT repealing the legacies and succession tax.
SPONSORS: Rep. McGuirk, Ches 1; Rep. Mock, Carr 3; Rep. Almy, Graf 14; Rep. Foster, Hills 10; Rep. Melcher, Hills 11; Sen. Disnard, Dist 8; Sen. Brown, Dist 17
This bill repeals the legacies and succession 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
16june99.....1317h
16june99.....1404h
1/13/00.....2090s
4/6/00.....4033s
5/18/00.....4584s
99-0174
09/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand
AN ACT repealing the legacies and succession tax.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Repeal. RSA 86, relative to the legacies and succession tax, is repealed.
2 Effective Date. This act shall take effect July 1, 2001.
Vetoed May 31, 2000
LBAO
99-0174
Amended 9/2/99
HB 542 FISCAL NOTE
AN ACT repealing the legacies and succession tax.
FISCAL IMPACT:
The Department of Revenue Administration indicates this bill, as amended by the House, will decrease state unrestricted revenue in FY 2000 and FY 2001 by an indeterminable amount. There is no fiscal impact on county and local revenues or state, county and local expenditures.
METHODOLOGY:
The Department states that this bill will repeal the legacies and successions tax effective July 1, 1999. The fiscal impact could not be determined because the procedures for settling estates takes several months, and an indeterminable amount of tax revenue would be received after the effective date of the tax repeal.
For information purposes, the budgeted unrestricted revenue for legacy and succession taxes in FY 2000 and FY 2001 were $33.750 million and $37.747 million respectively. The Department did not project the fiscal impact beyond FY 2001.