Budget & Taxes

SB 582 increases New Hampshire's base cost for an adequate education from $4,100 to $7,356.01 per student for the 2027-2028 school year, directly affecting public schools receiving state funding. It expands the definition of "adequate education" to include specific resources like teachers, counselors, technology, and facilities maintenance. The bill requires the state to update this cost every two years using actual school data and adjusts funding formulas accordingly. The fiscal note estimates this change will cost approximately $500 million annually starting in 2028, funded through the Education Trust Fund.

SB 584 increases state funding for students receiving special education services by adding $16,000 per student to the base education cost calculation. This change directly affects school districts and students in special education programs across New Hampshire, starting July 1, 2026. The bill modifies the formula used to determine per-pupil funding by specifying this additional amount for special education students, alongside existing adjustments for free/reduced meals and English language learners. The policy change aims to provide higher state support for these students' educational needs without altering current eligibility criteria.

SB 406 appropriates $20 million from the state General Fund to the city of Nashua for purchasing the former Daniel Webster College property. The bill states this property, currently owned by a foreign entity near Nashua's airport (deemed critical infrastructure), must be acquired to prevent foreign ownership near sensitive infrastructure. The funds are designated for the 2026-2027 biennium and will be drawn directly from the state treasury. This is a direct funding mechanism with no revenue impact on the state.

This bill allows New Hampshire towns and cities to collect a fee of up to $2 per day on hotel and room rentals priced above $40 per night, for up to 184 consecutive days per stay. Municipalities must hold a public hearing and obtain voter approval through a town meeting or city council vote before implementing the fee. Revenues must be deposited into a dedicated tourism or capital improvement fund to support services related to increased tourism and transient traffic, and cannot be used as general fund surplus. The fee applies only to rentals exceeding $40 daily, with no fee collected on lower-priced stays.

SB 636 creates tax credits for small businesses facing increased costs due to federal tariffs. Qualifying businesses - manufacturers with fewer than 50 employees or non-manufacturers with average annual revenue under $500,000 - can claim a credit equal to 25% of documented tariff-related costs (e.g., via invoices or supplier certifications), up to $7,500 per business annually. The total state spending on these credits is capped at $8 million per fiscal year, with applications processed in order of receipt and prorated if the cap is exceeded. Unused credits may be carried forward for up to three years, but credits are non-refundable and applied first against business profits tax.