This RSA section is an unofficial mirror, is not legal advice, and may be incomplete, outdated, or incorrectly processed.
RSA 162-K:9 · Tax Increment Financing Plan
162-K:9 Tax Increment Financing Plan. – The municipality shall adopt a tax increment financing plan for any development district established under this chapter. The plan shall allocate use of tax increments for retirement of bonds and notes, operation, maintenance and improvements in the district and for general municipal purposes.
Copy linkA tax increment financing plan shall contain a statement of objectives of a municipality for improvement of a development district. Such plan shall be incorporated into the development program for the district. It shall contain estimates of the following: cost of the development program; sources of revenues to finance those costs including estimates of tax increments; amount of bonded indebtedness to be incurred; and the duration of the program's existence. The plan shall also contain a statement of the estimated impact of tax increment financing on the assessed values of all taxing jurisdictions in which the district is located.
Copy linkBefore approving any tax increment financing plan, a public hearing shall be held as part of the hearing on the development district under RSA 162-K:4.
Copy linkBefore formation of a development district, the municipality shall provide a reasonable opportunity to the county commissioners of any county in which any portion of the development district is located and to the members of the school board of any school district in which any portion of the development district is located to meet with the governing body. The governing body shall fully inform the county commissioners and the school boards of the fiscal and economic implications of the proposed development district. The county commissioners and the school boards may present their recommendations at the public hearing. A municipality's tax increment financing plan may include agreements with the county commissioners and the school boards in which the district is located to share a portion of the captured tax increments of the district.
Copy linkA tax increment financing plan may be modified provided such modification shall be approved by the legislative body upon such notice and hearing and agreements as are required for approval of the original plan. In a case where the financing plan calls for the appropriation of a specific sum of money, the sum of money appropriated thereunder may be decreased or increased by the vote of the legislative body, provided that in a town under the municipal budget act no increase shall be valid which would violate the provisions of RSA 32:18, except as provided in RSA 32:18-a. Any modification shall maintain use of dedicated tax increments for retirement of bonds and notes as required. Source. 1979, 175:2, eff. Aug. 5, 1979. 2015, 167:1, eff. Aug. 25, 2015.
Copy linkSource note
Source. 1979, 175:2, eff. Aug. 5, 1979. 2015, 167:1, eff. Aug. 25, 2015.
Source history
- 1979, 175:2, eff. Aug. 5, 1979
- 2015, 167:1, eff. Aug. 25, 2015
Related materials
Bill relationships
-
2026 HB1505
reference · effective 2027-04-01
RSA 32:1-13, shall apply to all towns, school districts, cooperative school districts, village districts, municipal economic development and revitalization districts created under RSA 162-K, and any other municipal entities, including those created pursuant to RSA 53-A or 53-B, which adopt their budgets at an annual meeting of their voters, except RSA 32:5-b[,] which shall apply only in those towns or dist
-
2026 HB1505-FN
reference · effective 2027-04-01
RSA 32:1-13, shall apply to all towns, school districts, cooperative school districts, village districts, municipal economic development and revitalization districts created under RSA 162-K, and any other municipal entities, including those created pursuant to RSA 53-A or 53-B, which adopt their budgets at an annual meeting of their voters, except RSA 32:5-b[,] which shall apply only in those towns or dist
-
2026 HB1619
repeal · effective 2027-01-01
luding adoption of] the community revitalization tax relief incentive program under RSA 79-E and establishment of municipal economic development and revitalization districts under RSA 162-K. 4 Repealing the Workforce Housing Program; Housing Planning and Regulation Municipal Grant Program. Amend RSA 12-O:72 to read as follows: 12-O:72 Housing Planning and Regulation Municipal Grant Program. The departme
-
2026 HB1660
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
-
2026 HB1660
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
-
2026 HB1660
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
-
2026 SB643
reference · effective 2027-04-01
RSA 32:1-13, shall apply to all towns, school districts, cooperative school districts, village districts, municipal economic development and revitalization districts created under RSA 162-K, and any other municipal entities, including those created pursuant to RSA 53-A or 53-B, which adopt their budgets at an annual meeting of their voters, except RSA 32:5-b[,] which shall apply only in those towns or dist
-
2026 SB643-FN
reference · effective 2027-04-01
RSA 32:1-13, shall apply to all towns, school districts, cooperative school districts, village districts, municipal economic development and revitalization districts created under RSA 162-K, and any other municipal entities, including those created pursuant to RSA 53-A or 53-B, which adopt their budgets at an annual meeting of their voters, except RSA 32:5-b[,] which shall apply only in those towns or dist