This bill relates to the statewide education property tax and excess revenue from games of chance. It amends RSA 76:3 to require the commissioner of the department of revenue administration to set the education tax rate at a level sufficient to generate revenue of $363,000,000, less any amount under RSA 76:3-a. The bill also inserts a new section, RSA 76:3-a, which requires the commissioner to reduce the level of revenue required to be generated under RSA 76:3 by the amount of revenue paid to the education trust fund under 287-D:20, minus $6,600,000, which is the estimated amount paid in the state's 2023 fiscal year. The bill takes effect on July 1, 2024.

The fiscal impact of this bill is indeterminable. It is unknown whether games of chance revenue in fiscal year 2025 and beyond would exceed $6,600,000, so it is not possible to estimate the potential impact on state education trust fund revenue or expenditures, or local school district revenue received from the state. The bill does not provide sufficient funding to cover estimated expenditures and does not authorize new positions to implement the bill. The agencies contacted for this bill include the Department of Education, Department of Revenue Administration, and Lottery Commission.

Statutes affected:
Introduced: 76:3