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SB445: suspending the registration fee for the sale of municipal bonds in New Hampshire for 2 years.

Citation
2016 SB445

Bill details

Version history is not present in imported LFoD data.

Amendments are not present in imported LFoD data.

Roll-call votes are not present in imported LFoD data.

Fiscal notes are not present in imported LFoD data.

Senate status
Laid on Table
Committee
SENATE Ways and Means
Hearing
02/02/2016 at 09:30 AM
Selected version
Current official bill text

Sponsors

Topics

Taxation Local government Public finance

Official links

SB 445-FN-LOCAL - AS INTRODUCED

2016 SESSION

16-2895

06/10

SENATE BILL 445-FN-LOCAL

AN ACT suspending the registration fee for the sale of municipal bonds in New Hampshire for 2 years.

SPONSORS: Sen. Sanborn, Dist 9; Sen. Avard, Dist 12; Sen. Birdsell, Dist 19; Sen. Boutin, Dist 16; Sen. Cataldo, Dist 6

COMMITTEE: Ways And Means

ANALYSIS

This bill suspends the registration fee for the sale of municipal bonds in New Hampshire for 2 years.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

16-2895

06/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Sixteen

AN ACT suspending the registration fee for the sale of municipal bonds in New Hampshire for 2 years.

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

1 Registration Fee for Sale of Municipal Bonds; Suspension During Biennium. Notwithstanding the provisions of RSA 421-B:3-302(a) and RSA 421-B:6-614, registration fees for the sale of municipal bonds in New Hampshire shall be suspended beginning on the effective date of this act and through the biennium ending June 30, 2017.

2 Effective Date. This act shall take effect 60 days after its passage.

LBAO 16-2895

12/11/15

SB 445-FN-LOCAL- FISCAL NOTE

AN ACT suspending the registration fee for the sale of municipal bonds in New Hampshire for 2 years.

FISCAL IMPACT:

The Department of State states this bill, as introduced, may decrease state revenues by approximately $42,500 in FY 2017. There will be no fiscal impact to state, county, and local expenditures or county and local revenue.

METHODOLOGY:

The Department of State states this bill suspends the registration fee for industrial revenue bonds from 60 days after the passage of this bill through June 30, 2017. The Department of State receives approximately 34 filings annually for industrial revenue bonds. The fee for a notice filing of industrial revenue bonds is two-tenths of one percent of the New Hampshire aggregate offering price to a maximum of $1,050, which is usually reached by every filing. Additionally, there is a non-refundable $200 fee charged. Assuming 34 filings are made annually and the maximum fees apply, the Department of State estimates this bill would reduce state general fund revenue by $42,500 (34 * ($1,050 + $200)).