New Hampshire Revised Statutes 71-C:3 – Joint Committee on Tax Expenditure Review
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I. A joint committee on tax expenditure review is hereby established to review all qualifying tax expenditures on a rotating basis every 5 years and recommend continuance, amendment, or repeal of relevant provisions. The joint committee shall be composed of 3 members of the house of representatives appointed by the speaker of the house of representatives and 2 members of the senate appointed by the senate president, provided that such appointments shall include the chair or vice-chair of the ways and means committee of the respective bodies. The first meeting shall be within 60 days after the effective date of this paragraph and called by the first-named house member.
II. The joint committee shall determine which credits, exemptions, and reduced rates meet the definition of a tax expenditure, recommend legislation to add any additional tax expenditures to N.H. Rev. Stat. § 71-C:2, establish a rotating schedule for review over 5-year periods, determine the goals of each tax expenditure, and establish general criteria for the future evaluation of each such tax expenditure.
III. The joint committee shall file an initial report containing its determinations on or before November 1, 2014 with the speaker of the house, the senate president, the governor, and the commissioner of revenue administration. Every November 1 thereafter, the joint committee shall file a report with recommendations for proposed legislation, including identification and a review plan for any tax expenditures that are subsequently enacted or amended. Reports required by this section shall be made available to the general public on the general court’s website.
II. The joint committee shall determine which credits, exemptions, and reduced rates meet the definition of a tax expenditure, recommend legislation to add any additional tax expenditures to N.H. Rev. Stat. § 71-C:2, establish a rotating schedule for review over 5-year periods, determine the goals of each tax expenditure, and establish general criteria for the future evaluation of each such tax expenditure.
Terms Used In New Hampshire Revised Statutes 71-C:3
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Continuance: Putting off of a hearing ot trial until a later time.
- Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
III. The joint committee shall file an initial report containing its determinations on or before November 1, 2014 with the speaker of the house, the senate president, the governor, and the commissioner of revenue administration. Every November 1 thereafter, the joint committee shall file a report with recommendations for proposed legislation, including identification and a review plan for any tax expenditures that are subsequently enacted or amended. Reports required by this section shall be made available to the general public on the general court’s website.