This bill proposes the establishment of a commission to study the effects of forest carbon programs on local tax revenue and the legacy timber industry in New Hampshire. The commission will consist of various members, including four from the House of Representatives, one from the Senate, and representatives from different departments and organizations such as the Department of Revenue Administration, the New Hampshire State Forester, the Fish and Game Department, the University of New Hampshire, the Current Use Board, and the New Hampshire Association of Conservation Commissions, among others. The commission is tasked with examining the impact of forest carbon programs on tax revenue, alternative revenue sources for towns, the forest products industry, trends of forest carbon programs, reporting of forest carbon agreements, and other related effects.

The commission is required to elect a chairperson, hold its first meeting by July 31, 2025, and achieve a quorum with seven members. It must report its findings and any recommended legislation annually by November 1 to various state officials and entities. The bill also sets a repeal date for the commission's enabling section (RSA 79:3-c) for November 1, 2026, and specifies that the remainder of the act will take effect on January 31, 2025. The fiscal note attached to the bill indicates that there is no fiscal impact on state, county, and local expenditures or revenue as a result of this bill.

Statutes affected:
As Amended by the House: 79:3-c