Citizen in a RepublicNH Bill Briefing
← All bills

HB 502 · 2025 · House · Ways and Means Committee

Business tax reporting and education funding

AI-generated

relative to complete corporate reporting for unitary businesses under the business profits tax and revenues from the state education property tax.

Repeals water's-edge combined group reporting under the business profits tax, redirects state education property tax revenue to the education trust fund, revises education grant calculations, and modifies low-income property tax relief eligibility.AI-generated

Status

Killed in the House — Inexpedient to Legislate · February 20, 2025
  1. ✓Introduced
  2. ✕House
  3. Senate
  4. Governor
  5. Law

Analysis

This bill: I. Repeals the water's edge combined group provisions of the business profits tax. II. Requires the department of revenue administration to receive the revenues from the state education property tax and deposit them in the education trust fund. III. Revises the procedures for calculating state education grants. IV. Modifies the criteria for relief under the low and moderate income homeowners property tax relief program. V. Establishes a committee to study the low and moderate income homeowners property tax relief program.

From the bill's official ANALYSIS section.

Official record

Bill page — docket & status

gc.nh.gov · the authoritative source

Sponsors

Rep. Thomas SchambergDPrime

Rep. Thomas OppelD

Public testimony

12 signed in online · 1 wrote testimony

33% support67% oppose0% neutral

In their wordsVerbatim, exactly as submitted

“Stick to one topic per bill, this one's all over the place. Someone should write a bill to end omnibus bills (aside from the biennial budget).”
— Cindy Kudlik, Graftonopposes

Verbatim excerpts of submitted testimony, quoted from the testimony tool.

Read the testimony · as of Aug 12, 2026

Hearings

  • 2025-01-2810:00 amHouse Ways and MeansLOB 202-204Public hearing
  • 2025-02-041:30 pmHouse Ways and MeansLOB 202-204Public hearing

Legislative history

  1. Jan 9, 2025HouseIntroduced (in recess of) 01/09/2025 and referred to Ways and Means HJ 3 P. 13
  2. Jan 28, 2025HousePublic Hearing: 01/28/2025 11:15 am LOB 202-204
  3. Feb 4, 2025HouseExecutive Session: 02/04/2025 01:30 pm LOB 202-204
  4. Feb 4, 2025HouseMajority Committee Report: Inexpedient to Legislate 02/04/2025 (Vote 11-9; RC) HC 12 P. 13
  5. Feb 7, 2025HouseMinority Committee Report: Ought to Pass
  6. Feb 20, 2025HouseInexpedient to Legislate: MA RC 209-163 02/20/2025 HJ 6 P. 22

Coverage

No reporting linked yet.

Documents (PDF)

Bill text & amendments link direct to gc.nh.gov; committee reports stream from the state record.