HB 502 · 2025 · House · Ways and Means Committee
Business tax reporting and education funding
AI-generatedrelative 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- ✓Introduced
- ✕House
- Senate
- Governor
- 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.
In the bill's words
Quoted verbatim from the bill as introduced. Passages chosen from the operative text.Computed by this site
“Such payments by municipalities, and the 3 percent subtractions, shall be made in accordance with schedules, standards, and procedures established by rules adopted by the department of revenue administration after consultation with the commissioner of the department of education.”
“The tax bill shall also contain a statement informing the taxpayer of the types of tax relief for which the taxpayer has the right to apply.”
“"Combined net income" means the revenues less expenses as would be determinable under the provisions of the Internal Revenue Code as defined in RSA 77-A:1, XX and applied within the concepts of RSA 77-A for all business organizations conducting a unitary business regardless of whether such business organizations are required to file a federal income tax return.”
“"Foreign dividends" as used in RSA 77-A:3, II means dividends from overseas business organizations.”
Official record
gc.nh.gov · the authoritative source
Sponsors
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).”
Verbatim excerpts of submitted testimony, quoted from the testimony tool.
Read the testimony · as of Aug 12, 2026
Votes
yeanay- Feb 4, 2025HouseCommittee report· regular calendar: Inexpedient to Legislate11–9Overall55% yea
- Overall56% yeaParty-line voteRepublicans205–0100% yeaDemocrats4–1632% yea
Hearings and debates
- Jan 28, 2025Public hearingHouse Ways and Means1:21:07–1:41:3720m 30slocated in the stream transcriptPublic Hearing
- Feb 4, 2025Public hearingHouse Ways and Means3:57:05–3:58:441m 39slocated in the stream transcriptMajority Committee Report: Inexpedient to Legislate — roll call; Executive Session
- Feb 20, 2025Floor debateHouse floor1:10:50–1:22:2511m 35slocated in the stream transcriptInexpedient to Legislate — adopted, roll call 209-163
Timestamps locate where this bill is taken up in the chamber's YouTube stream.
Legislative history
- Jan 9, 2025HouseIntroduced (in recess of) 01/09/2025 and referred to Ways and Means HJ 3 P. 13
- Jan 28, 2025HousePublic Hearing: 01/28/2025 11:15 am LOB 202-204
- Feb 4, 2025HouseExecutive Session: 02/04/2025 01:30 pm LOB 202-204
- Feb 4, 2025HouseMajority Committee Report: Inexpedient to Legislate 02/04/2025 (Vote 11-9; RC) HC 12 P. 13
- Feb 7, 2025HouseMinority Committee Report: Ought to Pass
- Feb 20, 2025HouseInexpedient to Legislate: MA RC 209-163 02/20/2025 HJ 6 P. 22
Coverage
No reporting linked yet.
Background reading
Evergreen reading on the policy area — spanning perspectives — not coverage of this specific bill.
- New Hampshire R&D Tax Credit: Key Insights for ManufacturersNH context — how it works
Cherry Bekaert — A tax advisory firm's explanation of how New Hampshire's research and development tax credit is calculated and claimed.AI-generated
Tax Foundation — Analysis making the economic case for incentivizing research and development while noting the credit's design tradeoffs.AI-generated
Governing — Examines whether state-level R&D credits meaningfully increase research activity relative to their cost.AI-generated
SSTI (State Science & Technology Institute) — Reviews research finding mixed results on whether state R&D credits boost overall state research spending.AI-generated
The Pew Charitable Trusts — Nonpartisan look at how states evaluate whether their R&D tax incentives achieve intended results.AI-generated
Bipartisan Policy Center — Overview of how R&D tax policy works and the arguments on both sides of expanding research incentives.AI-generated
Documents (PDF)
Bill text & amendments link direct to gc.nh.gov; committee reports stream from the state record.