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 and governing bodies be recorded and printed in the respective warrants. The language changes from "may" to "shall," indicating a stronger obligation for municipalities to comply with this requirement. Additionally, RSA 32:5, V-b is repealed and reenacted to stipulate that annual budgets and special warrant articles with tax impacts must include a notation detailing the estimated tax impact per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, which describes the estimated tax impact if all proposed articles with a tax impact were to pass. This summary must also be included on official ballots in towns that have adopted the use of official ballots. The bill emphasizes that the determination of both the estimated tax impact and the total estimated tax impact must be approved by the governing body. The act is set to 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