HB 1247-FN-LOCAL - AS INTRODUCED
2000 SESSION
HOUSE BILL 1247-FN-LOCAL
AN ACT increasing the tax rate assessed on excavated earth.
SPONSORS: Rep. Burnham, Ches 8
This bill increases the tax assessed on excavated earth from $.02 per cubic yard to $.08 per cubic yard.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
00-2526
08/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand
AN ACT increasing the tax rate assessed on excavated earth.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Excavation Tax; Rate Assessed. Amend RSA 72-B:1, II to read as follows:
II. Earth, as defined in RSA 155-E:1, I, shall be exempt from taxation as real property under RSA 72:6 and RSA 72:13. An excavation tax shall be assessed upon the excavation of earth against an owner as defined in RSA 72-B:2, VIII. Such tax shall be assessed at the rate of [$.02] $.08 per cubic yard of earth excavated.
2 Effective Date. This act shall take effect April 1, 2000.
LBAO
00-2526
11/22/99
HB 1247-FN-LOCAL - FISCAL NOTE
AN ACT increasing the tax rate assessed on excavated earth.
FISCAL IMPACT:
The Department of Revenue Administration indicates this bill will increase local revenue by $977,000 in FY 2000 and each year thereafter. There is no fiscal impact on state and county revenue or state, county and local expenditures.
METHODOLOGY:
The Department assumes that local revenues would increase by $977,000 per year beginning in FY 2000, using tax year 1998 data, the most current data available. The 1998 reports of excavated material indicated that 16,345,121 cubic yards of material was excavated. The Department subtracted the portion of this total that pertained to excavations of less than 1,000 yards (60,717), then applied the $.06 ($.08-$.02) tax differential to the adjusted base of 16,284,404 (16,345,121 - 60,717) to determine the increase in local revenues of $977,000. The Department made this calculation without adjusting for local abatements since this information was not available. The Department further assumed that additional administrative costs would be minimal and assumed that the increase local revenue projected in FY 2000 would continue at the same amount.