This bill mandates that municipalities must require tax impact statements for budgets and warrant articles, as well as a total tax summary statement. Specifically, it amends RSA 32:5, V-a to change the language from "may" to "shall," thereby making it a requirement for towns, school districts, and village districts to record votes on budget items and warrant articles. Additionally, it modifies RSA 32:5, V-b to stipulate that towns must include a notation on the estimated tax impact of any special warrant articles, phrased in a specific format. Furthermore, it introduces a new requirement for a tax-impact summary statement at the end of the budget or warrant article, detailing the estimated tax impact if all proposed articles with tax implications were to pass.

The effective date for this act is set for January 1, 2026. The fiscal impact of the bill is noted as indeterminable for both state and local expenditures, with no expected revenue changes. The bill may influence the judicial and correctional systems due to its modifications to existing laws, which could affect costs related to prosecution, incarceration, probation, and parole.

Statutes affected:
Introduced: 32:5