HB 538 - AS INTRODUCED
2003 SESSION
10/09
HOUSE BILL 538
AN ACT relative to the establishment of municipal economic development and revitalization districts by certain municipalities.
COMMITTEE: Municipal and County Government
This bill changes the limitations for certain municipalities that may create a municipal economic development and revitalization district under RSA 162-K.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03-0899
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Three
AN ACT relative to the establishment of municipal economic development and revitalization districts by certain municipalities.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Establishment of Districts; Limitation. Amend RSA 162-K:5, I and II to read as follows:
I. For municipalities using a town meeting form of government and whose population does not exceed 15,000 inhabitants:
(a) The total acreage included in any one development district when designated shall not exceed 5 percent of the total acreage of the municipality, and when added to the total current acreage within the development districts for which bonds remain outstanding shall not exceed 10 percent of the total acreage of the municipality.
(b) The total assessed value of taxable real property of any one development district when designated shall not exceed 8 percent of the most recent total assessed value of taxable real property in the municipality, and when added to the current total assessed value of taxable real property within development districts for which bonds remain outstanding, shall not exceed 16 percent of the most recent total assessed value of taxable real property in the municipality.
II. For all other municipalities:
(a) The total acreage included in any one development district when designated shall not exceed 1 1/2 percent of the total acreage of the municipality, and when added to the total current acreage within the development districts for which bonds remain outstanding shall not exceed 3 percent of the total acreage of the municipality.
[II.](b) The total assessed value of taxable real property of any one development district when designated shall not exceed 5 percent of the most recent total assessed value of taxable real property in the municipality, and when added to the current total assessed value of taxable real property within development districts for which bonds remain outstanding, shall not exceed 10 percent of the most recent total assessed value of taxable real property in the municipality.
2 Effective Date. This act shall take effect 60 days after its passage.