This bill modifies the process for local political subdivisions to rescind tax caps established under RSA 32:5-b. Specifically, it introduces a new provision allowing towns that adopted a tax cap before July 1, 2025, to repeal it by a simple majority vote, as opposed to the stricter three-fifths majority required for those that adopted the tax cap after that date. The new language inserted into the law states that any local political subdivision that adopted the tax cap before July 1, 2025, may consider rescinding it with a majority vote, while those that adopted it after that date must still adhere to the three-fifths majority requirement.

Additionally, the bill repeals the existing provision that allows for rescinding tax caps under a three-fifths majority for subdivisions that adopted the cap after July 1, 2025. The effective dates for the various sections of the bill are staggered, with the first section taking effect upon passage, the second on July 1, 2026, and the third on July 1, 2028. This legislative change aims to provide more flexibility for towns in managing their local budgets and tax caps.

Statutes affected:
Introduced: 32:5-c, 32:5-
HB1528 text: 32:5-c