SB 377-FN-A-LOCAL - AS INTRODUCED
2002 SESSION
09/01
SENATE BILL 377-FN-A-LOCAL
This bill repeals the education property 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
02-3103
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Two
AN ACT repealing the education property tax.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Repeal. The following are repealed:
I. RSA 21-I:18, I(l), relative to the purchase of services by the department of administrative services for the administration of low and moderate income homeowners property tax relief.
II. RSA 76:3, relative to the education property tax.
III. RSA 83-F:9, relative to an exemption from the education property tax.
IV. RSA 198:56-61, relative to low and moderate income homeowners property tax relief.
2 Effective Date. This act shall take effect July 1, 2002.
LBAO
02-3103
11/21/01
SB 377-FN-A-LOCAL - FISCAL NOTE
AN ACT repealing the education property tax.
FISCAL IMPACT:
The Department of Revenue Administration states this bill will decrease state revenue by $485,725,000 and state expenditures by $6,000,000 in FY 2003 and each year thereafter. There will be no fiscal impact on county and local revenue or expenditures.
METHODOLOGY:
The Department calculated the decrease in revenue using the equalized valuations and tax rate in effect in FY 2003, and calculated the decrease in expenditures related to hardship provisions using an estimate for FY 2003. The amounts were not changed for subsequent years.