Rep. Mike Murphy

Maddy summaryHB 123 establishes a temporary moratorium on new carbon sequestration projects in New Hampshire forests and creates a commission to study how carbon sequestration affects state/local tax revenue, forest management, and the logging industry. The bill also grants the Pasquaney School District an exception to standard tax assessment rules, allowing member towns to adjust tax rates for the 2025 partial payment to align with the district’s budget needs. The commission will examine impacts on timber tax revenue (defined as revenue before carbon sequestration projects began), forest health, and the logging industry’s economic health. These provisions directly affect New Hampshire’s forestry sector, local tax calculations for the Pasquaney School District, and state policy regarding carbon sequestration.

Maddy summaryHB 124 allows municipal forest committees or conservation commissions to transfer any surplus funds they hold directly to the municipality's general unreserved fund balance. This affects local committees managing forest or conservation funds and the municipalities receiving those funds. The key provision removes barriers to moving leftover money from these specialized committees into the main municipal account, streamlining fund management. The bill became law on July 15, 2025, and takes effect September 13, 2025.