SB343: establishing a commission to study apportionment of gross business profits under the business profits tax.

CHAPTER 153

SB 343 - FINAL VERSION

01/21/2016 0052s

20Apr2016... 1275h

2016 SESSION

16-2720

10/03

SENATE BILL 343

AN ACT establishing a commission to study apportionment of gross business profits under the business profits tax.

SPONSORS: Sen. Birdsell, Dist 19; Sen. Carson, Dist 14; Sen. Avard, Dist 12

COMMITTEE: Ways And Means

ANALYSIS

This bill establishes a commission to study apportionment of gross business profits under the business profits 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

01/21/2016 0052s

20Apr2016... 1275h 16-2720

10/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Sixteen

AN ACT establishing a commission to study apportionment of gross business profits under the business profits tax.

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

153:1 New Section; Business Profits Tax; Commission on Apportionment. Amend RSA 77-A by inserting after section 21 the following new section:

77-A:22 Commission on Apportionment. There is established a commission to study the apportionment of gross business profits under the business profits tax.

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

(a) Two members of the senate, appointed by the president of the senate.

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

(c) One member of the business community, appointed by the president of the senate.

(d) One member of the business community, appointed by the speaker of the house of representatives.

(e) The president of the New Hampshire Bar Association, or designee.

(f) The president of the New Hampshire Society of Certified Public Accountants, or designee.

(g) The commissioner of resources and economic development, or designee.

(h) The commissioner of revenue administration, or designee.

(i) The attorney general, or designee.

II. Legislative members of the commission shall receive mileage at the legislative rate when attending to the duties of the commission.

III. The commission shall study apportionment among states pursuant to RSA 77-A:3 of gross business profits under the business profits tax.

IV. The members of the commission shall elect a chairperson from among the members. The first meeting shall be called by the first-named senate member. The first meeting of the commission shall be held within 45 days of the effective date of this section. Six members of the commission shall constitute a quorum.

V. The commission shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2016.

153:2 Repeal. RSA 77-A:22, relative to the commission on apportionment, is repealed.

153:3 Effective Date.

I. Section 2 of this act shall take effect November 1, 2016.

II. The remainder of this act shall take effect upon its passage.

Approved: May 27, 2016

Effective Date: I. Section 2 shall take effect November 1, 2016

II. Remainder shall take effect May 27, 2016