17may01...1140h

3/14/02 2963s

21mar02...3072eba

2002 SESSION

01-0607

05/09

HOUSE BILL 498

COMMITTEE: Municipal and County Government

AMENDED ANALYSIS

This bill exempts federal tax exempt organizations from the New Hampshire real estate transfer tax for any transfers of real estate or interests in real estate that are necessary for the purchase of land and conservation easements in the Connecticut Lakes Headwaters Tract.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

17may01...1140h

3/14/02 2963s

21mar02...3072eba

01-0607

05/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Two

Be it Enacted by the Senate and House of Representatives in General Court convened:

11:1 Exemption From Real Estate Transfer Tax. The provisions of RSA 78-B shall not apply to transfers of real estate or any interest in real estate to or from any organization exempt from federal taxation under section 501 of the United States Internal Revenue Code of 1986, as amended, that are necessary to achieve the purchase of a certain tract of land and related conservation easements located in Pittsburg, Clarksville and Stewartstown, New Hampshire, known as the Connecticut Lakes Headwaters Tract. The exception provided in this section shall apply only to the exempt organization. Any non-exempt seller, grantor, assignor, transferor, or purchaser of any real estate or interest in real estate shall be liable for the payment of the tax imposed by RSA 78-B:1.

11:2 Effective Date. This act shall take effect upon its passage.

(Approved: March 25, 2002)

(Effective Date: March 25, 2002)