2003 SESSION

03-0847

09/10

HOUSE BILL 809

COMMITTEE: Ways and Means

ANALYSIS

This bill establishes a committee to study implementing a consumption 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

03-0847

09/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Three

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

1 Committee Established. There is established a committee to study implementing a consumption tax.

2 Membership and Compensation.

I. The members of the committee shall be as follows:

(a) Three members of the house of representatives, appointed by the speaker of the house.

(b) Three members of the senate, appointed by the president of the senate.

II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.

3 Duties. The committee shall study implementing a consumption tax. The committee shall consider:

I. The use of consumption tax revenues to fund education.

II. Reducing the rate of the business enterprise tax.

III. A consumption tax credit against the business profits tax.

IV. The provisions of 2001, HB 766-FN-A-LOCAL, which establish a one percent tax on gross receipts from the consumption of sales of goods and services as a source of funding for education.

V. Reducing or repealing other state taxes.

4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named house member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Four members of the committee shall constitute a quorum.

5 Report. The committee shall report its findings and any recommendations for proposed legislation to the speaker of the house of representatives, the senate president, the house clerk, the senate clerk, the governor, and the state library on or before November 1, 2003.

6 Effective Date. This act shall take effect upon its passage.