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SB 173 · 2025 · Senate · Commerce Committee

Assessing low-income housing properties

AI-generated

relative to residential property subject to housing covenants under the low income housing tax credit program.

Provides that residential property subject to a housing covenant under the low income housing tax credit program shall be assessed at an amount equal to 10 percent of actual rental and certain other income.AI-generated

Status

Signed into law · June 24, 2025
  1. ✓Introduced
  2. ✓Senate
  3. ✓House
  4. ✓Governor
  5. ✓Law

Analysis

This bill provides that residential property subject to a housing covenant under the low income housing tax credit program shall be assessed an amount equal to 10 percent of the actual rental income and certain other income.

From the bill's official ANALYSIS section.

In the bill's words

Quoted verbatim from the bill as enacted. Passages chosen from the operative text.Computed by this site

“The appraisal for property tax purposes on multifamily residential rental property which is governed by section 42 of the Internal Revenue Code and which is subject to a recorded housing subsidy covenant that restricts tenant eligibility and rents shall, upon the affirmative request of the taxpayer, be determined under this section.”
RSA 75:1-a
“To make an election for an appraisal of property subject to a housing covenant under the low-income housing tax credit program, the taxpayer shall, by October 1 preceding the tax year for which the election is sought, provide written notice to the municipality of the taxpayer's election to be assessed under this section, using a form prepared by the department of revenue administration.”
RSA 75:1-a
“A property that as of April 1 of the tax year is under construction shall not be eligible to apply for assessment under this section.”
RSA 75:1-a
“When an election is made, the property shall be assessed under this section for the next 10 tax years, provided the property remains subject to the housing covenant under the low-income housing tax credit program.”
RSA 75:1-a

Official record

Bill page — docket & status

gc.nh.gov · the authoritative source

Sponsors

Sen. Keith MurphyRPrimeDeputy President Pro Tempore
  • Sen. Rebecca Perkins KwokaDMinority Leader
  • Sen. Howard PearlRChair· Executive Departments and Administration
  • Rep. Jason OsborneRMajority Leader
  • Rep. Joe AlexanderRChair· Housing

Also: Sen. Tim McGoughR

Public testimony

59 signed in online · 5 wrote testimony

97% support3% oppose0% neutral

In their wordsVerbatim, exactly as submitted

“Lines of communication between parents and schools does not need to be managed in this way.”
— Laurie MacKenzie, Wearesupports
“I support this bill. Please don't put low income housing tax credit program in jeopardy.”
— Anne Eiseman, Durhamnsupports
“Nick Taylor said he is for the bill because developers can't pass rising costs onto their renters, but why should the costs be passed to other properties in town who'd have to pay more to make up for it? ..... .... Diana Lush (spelling?)…”
— Maura Annette Chappelle, Coös countyopposes
“This bill screws taxpayers by giving tax breaks to multimillionaire mass housing developers as your neighborhood is trashed by their multiplex block housing illegal aliens. Sponsor is the same guy pushing all this build-out NH for pals.”
— Daniel Richardson, Nashuaopposes

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

Read the testimony · as of Aug 12, 2026

Votes

yeanay
Starting text: Bill as introduced
  • Mar 20, 2025SenateCommittee report: Ought to Pass6–0
    Overall
    100% yea
  • Mar 20, 2025SenateVoice voteOught to Passadopted
  • May 1, 2025HouseCommittee report· consent calendar: Ought to Pass15–0
    Overall
    100% yea
  • May 8, 2025HouseVoice voteOught to Passadopted
  • Jun 12, 2025SenateVoice voteEnrolledadopted

Hearings and debates

  • Feb 20, 2025Public hearingSenate Commerce45:40–1:03:3617m 56slocated in the stream transcriptHearing
  • Mar 20, 2025Floor debateSenate floorWatchnot located in the transcript — opens the full streamCommittee Report: Ought to Pass; Ought to Pass — adopted, voice vote
  • Apr 8, 2025Public hearingHouse Housing31:14–35:254m 11slocated in the stream transcriptPublic Hearing
  • May 8, 2025Floor debateHouse floor2:07:24–2:07:5228slocated in the stream transcriptOught to Pass — adopted, voice vote; Referred to Ways and Means; Referral Waived by Committee Chair per House Rule 47(f)
  • Jun 12, 2025Floor debateSenate floorWatchnot located in the transcript — opens the full streamEnrolled Adopted — voice vote

Timestamps locate where this bill is taken up in the chamber's YouTube stream.

Legislative history

  1. Jan 9, 2025SenIntroduced 01/09/2025 and Referred to Commerce; SJ 3
  2. Feb 20, 2025SenHearing: 02/20/2025, Room 100, SH, 09:45 am; SC 10
  3. Mar 20, 2025Sen: Ought to Pass, 03/20/2025; Vote 6-0; CC; SC 13
  4. Mar 20, 2025SenOught to Pass: MA, VV; OT3rdg; 03/20/2025; SJ 8
  5. Mar 27, 2025HouseIntroduced (in recess of) 03/27/2025 and referred to Housing HJ 11 P. 112
  6. Apr 8, 2025HousePublic Hearing: 04/08/2025 10:00 am LOB 305
  7. May 6, 2025House==CANCELLED== Executive Session: 05/06/2025 10:00 am LOB 305
  8. May 1, 2025HouseExecutive Session: 05/01/2025 11:40 am LOB 305
  9. May 1, 2025House: Ought to Pass 05/01/2025 (Vote 15-0; CC) HC 23 P. 9
  10. May 8, 2025HouseOught to Pass: MA VV 05/08/2025 HJ 14 P. 11
  11. May 8, 2025HouseReferred to Ways and Means 05/08/2025 HJ 14 P. 11
  12. May 8, 2025HouseReferral Waived by Committee Chair per House Rule 47(f) 05/08/2025 HJ 14 P. 42
  13. Jun 12, 2025HouseEnrolled (in recess of) 06/12/2025 HJ 17 P. 24
  14. Jun 12, 2025SenEnrolled Adopted, VV, (In recess 06/12/2025); SJ 17
  15. Jun 24, 2025SenSigned by the Governor on 06/24/2025; Chapter 0120; Effective 07/01/2025

Coverage

No reporting linked yet.

Documents (PDF)

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