Bill Text: NH HB1248 | 2020 | Regular Session | Introduced
Bill Title: Relative to community revitalization tax relief incentives.
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Introduced - Dead) 2020-06-02 - Committee Report: Ought to Pass (Vote 20-0; Consent Calendar) House Calendar 23 P. 5 [HB1248 Detail]
Download: New_Hampshire-2020-HB1248-Introduced.html
HB 1248-LOCAL - AS INTRODUCED
2020 SESSION
20-2524
05/10
HOUSE BILL 1248-LOCAL
AN ACT relative to community revitalization tax relief incentives.
SPONSORS: Rep. Conley, Straf. 13; Rep. Chase, Straf. 18; Rep. Andrew Bouldin, Hills. 12; Rep. Fenton, Ches. 8; Rep. Meuse, Rock. 29; Rep. Klein-Knight, Hills. 11; Rep. Grassie, Straf. 11; Rep. Cleaver, Hills. 35; Sen. Watters, Dist 4
COMMITTEE: Municipal and County Government
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ANALYSIS
This bill enables municipalities to offer community revitalization tax incentives for the construction of additional housing in designated areas.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
20-2524
05/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty
AN ACT relative to community revitalization tax relief incentives.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Definition of Qualifying Structure. Amend RSA 79-E:2, II to read as follows:
II. "Qualifying structure" means a building located in a district officially designated in a municipality's master plan, or by zoning ordinance, as a downtown, town center, central business district, or village center, or, where no such designation has been made, in a geographic area which, as a result of its compact development patterns and uses, is identified by the governing body as the downtown, town center, or village center for purposes of this chapter. Qualifying structure shall also mean historic structures in a municipality whose preservation and reuse would conserve the embodied energy in existing building stock. Cities or towns may further limit "qualifying structure" according to the procedure in RSA 79-E:3 as meaning only a structure located within such districts that meet certain age, occupancy, condition, size, or other similar criteria consistent with local economic conditions, community character, and local planning and development goals. Cities or towns may further modify "qualifying structure" to include buildings that have been destroyed by fire or act of nature, including where such destruction occurred within 15 years prior to the adoption of the provisions of this chapter by the city or town. In a city or town that has adopted the provisions of RSA 79-E:4-a, "qualifying structure" also means potentially impacted structures identified by the municipality within the coastal resilience incentive zone established under RSA 79-E:4-a. In a city or town that has adopted the provisions of RSA 79-E:4-b, "qualifying structure" also means a housing unit or units constructed in a housing opportunity zone established under RSA 79-E:4-b.
2 New Section; Community Revitalization Tax Relief Incentives; Housing Opportunity Zone. Amend RSA 79-E by inserting after section 4-a the following new section:
79-E:4-b Housing Opportunity Zone. A city or town may adopt the provisions of this section by vote of its legislative body, in accordance with the procedures described in RSA 79-E:3, to establish a housing opportunity zone. To be eligible for tax relief under this section, the qualifying structure and property shall be located within the housing opportunity zone established by the municipality. No less than one third of the housing units constructed shall be designated for households with an income of 80 percent or less of the area median income as measured by the United States Department of Housing and Urban Development. A qualifying structure under this section shall be eligible for tax assessment relief for a period of up to 10 years, beginning upon issuance of the certification of occupancy.
