This bill allows municipalities to implement a volunteer incentive property tax credit specifically for veterans and elderly residents who engage in volunteer work. The new section, RSA 72:39-c, establishes that cities and towns can adopt or rescind this tax credit, which is set at a maximum of $7.25 per hour of volunteer service, with a cap of $1,500 in total property tax credits per resident. Eligible individuals include veterans, their spouses, surviving spouses, and elderly residents aged 65 or older, provided they meet certain residency requirements. The bill also mandates that municipalities maintain records of volunteer service hours and the corresponding tax credit value for each participant.

Additionally, the bill amends existing laws to incorporate references to the new tax credit, including updates to RSA 72:27-a, RSA 72:29, and RSA 72:33, among others. Notably, it clarifies that the tax credit will not be considered income for state taxation purposes and that volunteer service does not include membership on municipal boards or committees. The act is set to take effect on April 1, 2026.

Statutes affected:
Introduced: 72:27-a, 72:29, 72:33, 72:36