New Hampshire Revised Statutes 78-B:13 – Distribution of Funds
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I. The commissioner shall determine the additional amounts of revenue produced by an increase of $.25 per $100 in the rate of tax imposed by N.H. Rev. Stat. § 78-B:1 for each fiscal year and shall certify such amounts to the state treasurer by October 1 of that year for deposit in the education trust fund established by N.H. Rev. Stat. § 198:39.
II. The commissioner shall make quarterly estimates of the amount of additional revenues that will be produced by the increase in tax rate for the next fiscal year and shall certify such amounts to the state treasurer for deposit in the education trust fund established by N.H. Rev. Stat. § 198:39. Such estimates shall be certified on June 1, September 1, December 1, and March 1 of each year.
III. Annually, on or before October 1, the commissioner shall direct the state treasurer to transfer the sum of $5,000,000 from revenue collected pursuant to the tax imposed by N.H. Rev. Stat. § 78-B:1 to the affordable housing fund established in N.H. Rev. Stat. § 204-C:57.
II. The commissioner shall make quarterly estimates of the amount of additional revenues that will be produced by the increase in tax rate for the next fiscal year and shall certify such amounts to the state treasurer for deposit in the education trust fund established by N.H. Rev. Stat. § 198:39. Such estimates shall be certified on June 1, September 1, December 1, and March 1 of each year.
Terms Used In New Hampshire Revised Statutes 78-B:13
- 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.
- 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
III. Annually, on or before October 1, the commissioner shall direct the state treasurer to transfer the sum of $5,000,000 from revenue collected pursuant to the tax imposed by N.H. Rev. Stat. § 78-B:1 to the affordable housing fund established in N.H. Rev. Stat. § 204-C:57.