HB1660: relative to municipal credit enhancement agreements and tax increment financing for priority housing development.

Related law links

RSA references from bill data

• 151 · reference · effective 2037-04-01

  ing communities compliant with 42 U.S.C. Section 3607(b); (b) Continuing care retirement communities under RSA 420-D; (c) Skilled care or nursing facilities licensed under RSA 151; (d) Assisted living facilities under RSA 151; (e) Workforce housing as defined in RSA 674:58, or (f) Other housing that addresses documented community housing needs as identified in a municipal master plan,

• 162-K · add · effective 2037-04-01

  te and House of Representatives in General Court convened: 1 Purpose. The general court hereby finds that: I. New Hampshire municipalities currently have authority under RSA 162-K to establish tax increment financing (TIF) districts. II. TIF districts allow a municipality to capture increases in property tax value within a designated district and direct those revenues toward public improvemen

• 162-K:10 · amend · effective 2037-04-01

  under RSA 162-K:9-a for a qualifying housing project located within a development district. VI. Under this section, housing-based increments shall be treated in accordance with RSA 162-K:10. 7 New Section; Public Safety and Welfare; Municipal Economic Development and Revitalization Districts; Credit Enhancement Agreements. Amend RSA 162-K by inserting after section 9 the following new section: 162-K:9

• 162-K:11 · amend · effective 2037-04-01

  ll preserve a parallel process for credit enhancement agreements. 9 Public Safety and Welfare; Municipal Economic Development and Revitalization Districts; Annual Report. Amend RSA 162-K:11 to read as follows: 162-K:11 Annual Report. I. The municipality's annual report shall contain a financial report for any development district in the municipality. The report shall include at least the following

• 162-K:2 · amend · effective 2037-04-01

  nual appropriations for purposes of transparency. 5 New Paragraphs; Public Safety and Welfare; Municipal Economic Development and Revitalization Districts; Definitions. Amend RSA 162-K:2 by inserting after paragraph XI the following new paragraphs: XII. "Credit enhancement agreement" means a written agreement approved by a municipal legislative body under RSA 162-K:9-a that provides for rebating a p

• 162-K:9 · amend · effective 2037-04-01

  a credit enhancement agreements. 6 New Paragraphs; Public Safety and Welfare; Municipal Economic Development and Revitalization Districts; Tax Increment Financing Plan. Amend RSA 162-K:9 by inserting after paragraph IV the following new paragraphs: V. Nothing in this section shall preclude a municipality from entering into a credit enhancement agreement under RSA 162-K:9-a for a qualifying housing p

• 162-K:9-A · reference · effective 2037-04-01

  -K:2 by inserting after paragraph XI the following new paragraphs: XII. "Credit enhancement agreement" means a written agreement approved by a municipal legislative body under RSA 162-K:9-a that provides for rebating a portion of tax revenue attributable to captured assessed value to the owner/developer of a qualifying housing project. Credit enhancement agreements shall only apply to rental or operator-m

• 21-J:34 · amend · effective 2037-04-01

  rt on credit enhancement agreement- and tax increment financing-related housing data. 3 New Paragraph; The State and Its Government; Property Tax Rates; Reports Required. Amend RSA 21-J:34 by inserting after paragraph XV the following new paragraph: XVI. An equalization report shall be filed by the local assessor of each city, town, village district, unincorporated town, unorganized place, or county,

• 21-J:9 · reference · effective 2037-04-01

  oses. VII. For purposes of this section, the term "housing-based increment" shall be considered a subset of captured assessed value. VIII. For purposes of equalization under RSA 21-J:9, the captured assessed value attributable to a qualifying housing project subject to a credit enhancement agreement under RSA 162-K:9-a shall be excluded from the equalized valuation of the municipality for a period not

• 21-J:9-A · amend · effective 2037-04-01

  lating their state property tax base, disincentivizing use of TIF for housing. 2 New Paragraphs; The State and Its Government; General Provisions; Equalization Procedure. Amend RSA 21-J:9-a by inserting after paragraph V the following new paragraphs: VI. As it pertains to determining the equalization of property within the cities, towns, and unincorporated places, the department shall exclude from equa

• 32 · amend · effective 2037-04-01

  and mixed-use allocations. 4 New Section; Towns, Cities, Village Districts, And Unincorporated Places; Municipal Budget Law; Treatment of Credit Enhancement Agreements. Amend RSA 32 by inserting after section 26 the following new section: 32:27 Treatment of Credit Enhancement Agreements. Notwithstanding any provision of law to the contrary, all towns, cities, towns, village districts, unincorp

• 420-D · reference · effective 2037-04-01

  ying housing project" means any of the following: (a) Senior housing communities compliant with 42 U.S.C. Section 3607(b); (b) Continuing care retirement communities under RSA 420-D; (c) Skilled care or nursing facilities licensed under RSA 151; (d) Assisted living facilities under RSA 151; (e) Workforce housing as defined in RSA 674:58, or (f) Other housing that addresses documente

• 541-A · reference · effective 2037-04-01

  nincorporated places, the department shall require that equalization values include commercial and industrial captured value. VIII. The department shall adopt rules, pursuant to RSA 541-A, pertaining to proportional assessed property values and mixed-use allocations. IX. The department shall require property assessors to obtain certifications pertaining to their qualifications as property assessors, as

• 674 · amend · effective 2037-04-01

  nicipalities in completing annual reports under this section. 10 New Section; Planning and Zoning; Local Land Use Planning and Regulatory Powers; Senior Housing Access. Amend RSA 674 by inserting after section 59 the following new section: 674:59-a Senior Housing Access. I. Municipalities shall provide reasonable and realistic opportunities to senior housing access. Such opportunities shall b

• 674:58 · reference · effective 2037-04-01

  ities under RSA 420-D; (c) Skilled care or nursing facilities licensed under RSA 151; (d) Assisted living facilities under RSA 151; (e) Workforce housing as defined in RSA 674:58, or (f) Other housing that addresses documented community housing needs as identified in a municipal master plan, a regional housing needs assessment, statewide housing guidance, or other reliable housing data sourc

• 674:61 · reference · effective 2037-04-01

  ant to this section that would, in effect, exclude senior housing access. III. Appeals for senior housing access may be taken, pursuant to this section, in the same manner as in RSA 674:61. IV. No blanket zoning or local control preserve requirements shall be required under this section. 11 Applicability; Credit Enhancement Agreements. Credit enhancement agreements executed prior to April 1, 2037, pur

RSAs mentioned by this document

• RSA 21-J · DEPARTMENT OF REVENUE ADMINISTRATION
• RSA 32 · MUNICIPAL BUDGET LAW
• RSA 151 · RESIDENTIAL CARE AND HEALTH FACILITY LICENSING
• RSA 162-K · MUNICIPAL ECONOMIC DEVELOPMENT AND REVITALIZATION DISTRICTS
• RSA 420-D · CONTINUING CARE COMMUNITIES
• RSA 541-A · ADMINISTRATIVE PROCEDURE ACT
• RSA 674 · LOCAL LAND USE PLANNING AND REGULATORY POWERS
• RSA 162-K:10 · Computation of Tax Increments
• RSA 162-K:11 · Annual Report
• RSA 162-K:2 · Definitions
• RSA 162-K:9 · Tax Increment Financing Plan
• RSA 21-J:34 · Reports Required
• RSA 21-J:9 · Repealed by 2013, 247:7, eff. Mar. 24, 2014
• RSA 674:58 · Definitions
• RSA 674:61 · Appeals