This bill introduces the definition of "housing investment trusts" into New Hampshire's investment trusts act by amending RSA 293-B:2. The new paragraph IX defines a housing investment trust as a "charitable organization" with at least three trustees who are natural persons and residents of New Hampshire, or a combination of such organizations and financial institutions like banks or credit unions. Additionally, housing investment trusts will be exempt from certain fee requirements outlined in RSA 293-A:1.22 and RSA 293-B:15.

The bill will take effect 60 days after its passage and is projected to have a fiscal impact of less than $10,000 for each fiscal year from 2025 to 2028. The Department of State has been contacted regarding this legislation, which aims to facilitate the establishment and operation of housing investment trusts in the state.

Statutes affected:
Introduced: 293-B:2