This bill establishes the Meals and Rooms Municipal Revenue Fund in New Hampshire, which will receive 30% of the net income from the meals and rooms tax revenue, as determined under RSA 78-A:26, I, after accounting for administrative costs and contributions to the education trust fund. The fund is designed to distribute revenue to unincorporated towns, unorganized places, towns, and cities based on a new formula that considers adjusted population estimates and equalized property values. Specifically, the distribution will exclude individuals living in property tax-exempt housing and will only apply to municipalities with an average equalized property value per adjusted population of $500,000 or less.

The bill also repeals certain sections of existing law related to the previous distribution of meals and rooms tax revenue and modifies the legal references to the newly established fund. The new distribution formula will require the state treasurer to calculate a population factor for each municipality, which will then be used to determine the amount of revenue each receives from the fund. The act is set to take effect on July 1, 2026.

Statutes affected:
Introduced: 6:12
HB1474 text: 6:12