This bill aims to provide clarification regarding the calculation of the estimated amount of local taxes to be raised under a local tax cap. It amends RSA 32:5-b, I to ensure that the estimated amount of local taxes includes not only the operating budget but also all other warrant articles with a tax impact that are certified by the governing body or budget committee. The language changes involve the deletion of phrases such as "as shown on the" and "with," and the insertion of phrases like "shall include the operating" and "and all other warrant articles with a tax impact," as well as rephrasing for clarity.

The bill specifies that the estimated amount of local taxes to be raised for the fiscal year shall not exceed the local taxes raised for the prior year by more than the tax cap authorized when the section was adopted. It also states that the amended RSA 32:5-b will apply to local tax caps without requiring local amendment or re-adoption by the town or district. The act is set to take effect 60 days after its passage. According to the Office of Legislative Budget Assistant, the bill, as amended, has no fiscal impact on state, county, and local expenditures or revenue.

Statutes affected:
Introduced: 32:5-b
As Amended by the House: 32:5-b
Version adopted by both bodies: 32:5-b