HB 294-FN - AS AMENDED BY THE HOUSE
2jan02...2051h
2001 SESSION
09/10
HOUSE BILL 294-FN
AN ACT excluding certain pension income from household income for purposes of determining low and moderate income homeowners property tax relief.
SPONSORS: Rep. Cox, Rock 24; Rep. Langley, Rock 24; Rep. Alger, Graf 9; Rep. Leone, Sull 2; Rep. Shultis, Rock 33; Sen. Cohen, Dist 24
This bill excludes pension income up to $14,000 in pension payments received in lieu of social security payments from household income for purposes of determining low and moderate income homeowners property tax relief.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
2jan02...2051h
01-0214
09/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand One
AN ACT excluding certain pension income from household income for purposes of determining low and moderate income homeowners property tax relief.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Definition; Household Income. Amend RSA 198:56, III to read as follows:
III. "Household income" means the sum of the adjusted gross income for federal income tax purposes of the claimant and any adult member of the claimant's household who resides in the homestead for which a claim is made, less up to $14,000 in pension payments for each claimant or household member who was ineligible for social security and receives a pension in lieu of social security payments. "Household income" shall also include all income of any trust through which the claimant holds equitable title, or the beneficial interest for life, in the homestead.
2 Effective Date. This act shall take effect July 1, 2002 at 12:01 a.m..
LBAO
01-0214
Revised 8/23/01
HB 294 FISCAL NOTE
AN ACT excluding certain pension income from household income for purposes of determining education property tax hardship relief.
FISCAL IMPACT:
The Department of Revenue Administration indicates this bill will have an indeterminable fiscal impact on state restricted expenditures in FY 2002. There is no fiscal impact on state, county and local revenue or county and local expenditures.
METHODOLOGY:
The Department could not project the fiscal impact of this bill because the Department does not currently have a data set that differentiates pension types on an individual basis.