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, and budget committees be recorded and printed in the town, school district, or village district warrant. The language changes from "may" to "shall," indicating a stronger requirement for these recorded votes. Additionally, RSA 32:5, V-b is repealed and reenacted to stipulate that annual budgets and special warrant articles with tax impacts must include a notation of the estimated tax impact per $1,000 of property valuation.

Furthermore, the bill requires that a total tax impact summary statement be included at the end of the warrant article, detailing 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 bill emphasizes transparency in municipal budgeting by ensuring that voters are informed of the financial implications of their decisions. 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