This bill introduces a new section to the New Hampshire Revised Statutes Annotated (RSA) that prohibits the Department of Revenue Administration from accepting or setting negative property tax rates for localities that have minimal or no public education costs in their budgets, yet still possess taxable property. The new legal language is inserted as section 21-J:35-a, which specifically outlines this prohibition.

The bill aims to ensure that municipalities with little to no investment in public education cannot benefit from negative tax rates, thereby maintaining a fair tax structure across the state. The act is set to take effect immediately upon its passage, reinforcing the urgency of addressing the issue of negative tax rates in certain localities.