Bill Text: NH SB55 | 2025 | Regular Session | Introduced
Bill Title: Providing temporary exemptions from the land use change tax for qualifying housing projects.
Spectrum: Moderate Partisan Bill (Republican 9-1)
Status: (Introduced) 2025-01-15 - Hearing: 01/23/2025, Room 100, State House, 10:10 am; Senate Calendar 7 [SB55 Detail]
Download: New_Hampshire-2025-SB55-Introduced.html
SB 55 - AS INTRODUCED
2025 SESSION
25-0969
07/05
SENATE BILL 55
AN ACT providing temporary exemptions from the land use change tax for qualifying housing projects.
SPONSORS: Sen. Lang, Dist 2; Sen. Gannon, Dist 23; Sen. McGough, Dist 11; Sen. Watters, Dist 4; Sen. Innis, Dist 7; Sen. Pearl, Dist 17; Sen. Murphy, Dist 16; Sen. Sullivan, Dist 18; Rep. Edwards, Rock. 31; Rep. Alexander Jr., Hills. 29
COMMITTEE: Commerce
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ANALYSIS
This bill provides temporary exemptions from the land use change tax for qualifying housing projects.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
25-0969
07/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
AN ACT providing temporary exemptions from the land use change tax for qualifying housing projects.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Taxation; Current Use Taxation; Land Use Change Tax. Amend RSA 79-A by inserting after section 7 the following new section:
79-A:7-a Exemption for Qualifying Housing Projects.
I. For the purposes of this section, "qualifying projects" shall mean any project that:
(a) Involves changing the current use of residential or commercial land; and
(b) Creates a minimum of 20 residential units.
II. Any qualifying housing project that has received approval by a municipal planning board, in compliance with RSA 674, shall be exempt from the land use change tax under RSA 79-A:7. Any project approved prior to the effective date shall not qualify for a land use change tax exemption.
III. Any qualifying project that fails to satisfy the following conditions shall forfeit its eligibility for an exemption from the land use change tax:
(a) Active and substantial development or building has begun on the project by the owner or the owner's successor in interest in accordance with the approved subdivision plat within 36 months after the date of approval, or in accordance with the terms of the approval, and, if a bond or other security to cover the costs of roads, drains, or sewers is required in connection with such approval, such bond or other security is posted with the city, town, or county in which there are located unincorporated towns or unorganized places, at the time of commencement of such development;
(b) Project development remains in full compliance with the public health regulations and ordinances specified in RSA 674; and
(c) The subdivision plat or site plan conforms to the subdivision regulations, site plan review regulations, and zoning ordinances then in effect at the location of such subdivision plat or site plan.
IV. Municipal assessing officials shall have the authority to administer the provisions of this section and verify compliance with project completion requirements.
V. The department of revenue administration shall adopt rules under RSA 541-A to implement the provisions of this section, including creating, distributing, and reviewing documentation required to apply for an exemption under this section and procedures for assessing a project for under RSA 79-A:7.
2 Repeal; Prospective Repeal. RSA 79-A:7-a, relative to exempting housing projects from the land use change tax, is repealed on March 31, 2031.
3 Effective Date. This act shall take effect 60 days after its passage.
