This bill proposes to raise the funding cap for the New Hampshire Community Development Finance Authority by amending RSA 162-L:10, IV(b). The current cap on contributions eligible for tax credits is set at $5 million per state fiscal year, which will be increased to $10 million. Contributions exceeding this new cap will not be eligible for credit in the fiscal year they are received but can be carried forward to subsequent years, where they will be prioritized for credit eligibility.

The fiscal impact of this bill is indeterminable, with an estimated maximum decrease in revenue of $3,750,000 for FY 2026 if the additional contributions are made. The bill is expected to generate additional federal funds and stimulate economic activity, potentially leading to new job creation and increased revenue for state, county, and local governments. The act is set to take effect on July 1, 2025.

Statutes affected:
Introduced: 162-L:10