Budget & Taxes (State Budget)

SB 652 limits how much excess tax paid by businesses can be applied as a credit toward future taxes. It caps the credit amount at decreasing percentages of the business's tax owed - starting at 500% for 2022-2029 tax periods, then gradually reducing to 150% by 2041. Any overpayment exceeding these caps must be refunded, not applied as a credit. This directly affects businesses that pay more in business profits tax than owed, changing how they handle excess payments.

HB 1288 allows New Hampshire school administrative units to set annual budget caps for their operations. The cap is calculated using the previous year's overhead cost per student (adjusted for inflation via a standard index) multiplied by average daily student enrollment across all member districts. If a school district's proposed budget exceeds this cap, voters must approve an override with a 3/5 majority vote; otherwise, the cap amount automatically becomes the adopted budget. This applies to any school administrative unit that chooses to adopt the cap, directly affecting how school budgets are set and approved within those units.

HB 1515 repeals the child care grant program that provided recruitment and retention grants to New Hampshire child care employers through the Department of Health and Human Services. The bill removes the $7.5 million annual appropriation (from federal TANF funds) that was intended to support these grants, though the program was already unworkable due to federal restrictions. This change directly affects child care providers who previously could have accessed these grants. The repeal has no fiscal impact as the program could not operate under federal guidelines, and no new funding or changes to services are enacted.

HB 1230 caps annual spending increases for New Hampshire's state government and local political subdivisions at a rate tied to the 4-year average inflation rate (capped at 2.5%) plus the previous year's population growth. It requires excess revenues over this limit to be deposited into a rainy day fund (up to 10% of revenue) or refunded, and prohibits spending above the cap without voter approval. Citizens can sue state/local governments for violations and, if successful, recover attorney fees and court costs. The bill directly affects state/local budgets and creates a legal pathway for public oversight of spending and debt decisions.