New Hampshire Revised Statutes 31-A:5 – Time of Payment
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Payment of revenues returnable to the city and towns shall be made as follows:
I. In 1970, the state treasurer shall pay over to each city or town the amount due to it on December 15, 1970.
II. (a) If a city or town has adopted a fiscal year ending in June, the state treasurer in the year 1983 shall make payments in installments as follows:
1/4 on March 15;
1/4 on June 15; and
1/2 on December 15. There is hereby appropriated for such fiscal year a sum sufficient to make the payments provided for by this section. The governor is authorized to draw his warrant for the sums appropriated by this section out of any money in the treasury not otherwise appropriated.
(b) If a city or town adopted a fiscal year ending in June, the state treasurer in the year 1984 shall make payments in installments as follows:
1/4 on June 15;
1/4 on July 15; and
1/2 on December 15. There is hereby appropriated for such fiscal year a sum sufficient to make the payments provided for by this section. The governor is authorized to draw his warrant for the sums appropriated by this section out of any money in the treasury not otherwise appropriated.
(c) If a city or town has adopted a fiscal year ending in June, the state treasurer, starting with the year 1985 and each year thereafter, shall make payments in installments as follows:
1/2 on July 15; and
1/2 on December 15. There is hereby appropriated for each fiscal year a sum sufficient to make the payments provided for by this section. The governor is authorized to draw his warrant for the sums appropriated by this section out of any money in the treasury not otherwise appropriated.
(d)(1) Notwithstanding any other provision of law to the contrary, any city or town which has adopted a fiscal year ending in June is hereby authorized, at its option, to include as part of its revenue sharing distribution under this chapter for any fiscal year, ending on June 30, all or any part of the revenue sharing distribution installment due under this chapter on the July 15 next following the fiscal year in which the option is exercised, for tax rate setting purposes.
(2) The commissioner of revenue administration shall recognize said inclusion for purposes of his establishment and approval of the tax rate for such city or town, pursuant to N.H. Rev. Stat. § 21-J:3, XV, for each fiscal year such option is exercised.
(3) Any fiscal year city or town is authorized for each fiscal year in which it exercises such option to issue revenue anticipation notes in an amount not to exceed the amount of the July 15 payment and the maturity date of which shall not exceed 60 days from the receipt of the July 15 payment.
I. In 1970, the state treasurer shall pay over to each city or town the amount due to it on December 15, 1970.
Terms Used In New Hampshire Revised Statutes 31-A:5
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. (a) If a city or town has adopted a fiscal year ending in June, the state treasurer in the year 1983 shall make payments in installments as follows:
1/4 on March 15;
1/4 on June 15; and
1/2 on December 15. There is hereby appropriated for such fiscal year a sum sufficient to make the payments provided for by this section. The governor is authorized to draw his warrant for the sums appropriated by this section out of any money in the treasury not otherwise appropriated.
(b) If a city or town adopted a fiscal year ending in June, the state treasurer in the year 1984 shall make payments in installments as follows:
1/4 on June 15;
1/4 on July 15; and
1/2 on December 15. There is hereby appropriated for such fiscal year a sum sufficient to make the payments provided for by this section. The governor is authorized to draw his warrant for the sums appropriated by this section out of any money in the treasury not otherwise appropriated.
(c) If a city or town has adopted a fiscal year ending in June, the state treasurer, starting with the year 1985 and each year thereafter, shall make payments in installments as follows:
1/2 on July 15; and
1/2 on December 15. There is hereby appropriated for each fiscal year a sum sufficient to make the payments provided for by this section. The governor is authorized to draw his warrant for the sums appropriated by this section out of any money in the treasury not otherwise appropriated.
(d)(1) Notwithstanding any other provision of law to the contrary, any city or town which has adopted a fiscal year ending in June is hereby authorized, at its option, to include as part of its revenue sharing distribution under this chapter for any fiscal year, ending on June 30, all or any part of the revenue sharing distribution installment due under this chapter on the July 15 next following the fiscal year in which the option is exercised, for tax rate setting purposes.
(2) The commissioner of revenue administration shall recognize said inclusion for purposes of his establishment and approval of the tax rate for such city or town, pursuant to N.H. Rev. Stat. § 21-J:3, XV, for each fiscal year such option is exercised.
(3) Any fiscal year city or town is authorized for each fiscal year in which it exercises such option to issue revenue anticipation notes in an amount not to exceed the amount of the July 15 payment and the maturity date of which shall not exceed 60 days from the receipt of the July 15 payment.