This bill mandates that municipalities must include 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 require that all votes related to budget items or warrant articles by advisory budget committees, governing bodies, or budget committees must be recorded votes, with the numerical tally printed next to the affected warrant article. The bill also repeals and reenacts RSA 32:5, V-b, which stipulates that towns must include an estimated tax impact notation for annual budgets and special warrant articles that have a tax impact. This notation must detail the estimated tax impact per $1,000 of property valuation, including multi-year impacts for special warrant articles.

Additionally, the bill requires a total tax impact summary statement to be included at the end of the warrant article, which describes the estimated tax impact if all proposed articles with a tax impact were to pass. This summary must also be included on the official ballot if the town has adopted the use of official ballots. The determination of both the estimated tax impact and the total estimated tax impact is subject to approval by the governing body. The act will take effect 60 days after its passage and is noted to have no fiscal impact on state, county, or local expenditures or revenue.

Statutes affected:
Introduced: 32:5
As Amended by the House: 32:5