Budget & Taxes (Tax Credits)

HB 1774 requires New Hampshire to participate in a federal tax credit for donations to scholarship organizations and creates a state list of qualifying groups. It prohibits state financial aid for college programs that don't meet federal earnings standards, defined by outcomes like job placement and wages above 150% of the federal poverty level. This affects public colleges, universities, and students enrolled in programs deemed "low-earning outcome" under federal criteria. The law aims to redirect state funding toward academic programs with stronger job prospects for graduates.

HB 1646 creates a tax credit allowing businesses to reduce their state business profits tax by the value of off-site infrastructure they fund or build that directly benefits the public, after obtaining municipal approval. The credit is limited to a business's annual tax liability, with unused portions carryable forward for up to 20 years. Businesses must document these improvements, and the Department of Revenue Administration will develop rules for verification and calculation. The credit takes effect April 1, 2027.

HB 1803 prohibits students from receiving both education tax credit scholarships (under RSA 77-G:2) and education freedom account funds (under RSA 194-F:2) in the same program year. This directly affects students currently using or eligible for both programs, requiring them to choose one funding source per year. The bill also removes an additional $2,036 grant for the Virtual Learning Academy Charter School (VLACS) when students in either program enroll part-time, shifting tuition responsibility to families. These changes aim to prevent duplicate funding and adjust state payments for specific school enrollments.

HB 1629 repeals New Hampshire's business enterprise tax (codified as RSA 77-E) and removes all references to it from state tax laws. The bill eliminates this tax from statutes governing tax reporting requirements, penalties for late filing, tax credit calculations, and funding for the education trust fund. Businesses that previously paid the business enterprise tax will no longer be subject to this specific tax code. The legislation makes technical changes to remove outdated references without altering other tax rates or creating new obligations.