HB 503 · 2025 · House · Ways and Means Committee
Tax increases for education funding
AI-generatedamending how revenues from taxes are allocated to the education trust fund.
Increases the rates of the business profits tax, business enterprise tax, and meals and rooms tax, reestablishes the interest and dividends tax, and directs the additional revenue to the education trust fund.AI-generated
Status
Killed in the House — Inexpedient to Legislate · March 6, 2025- ✓Introduced
- ✕House
- Senate
- Governor
- Law
Analysis
This bill increases the rates of the business profits tax, business enterprise tax, and meals and rooms tax, and reestablishes the interest and dividends tax. The bill provides for deposit of the additional revenue in the education trust fund.
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
“The annual tax upon incomes shall be levied at the rate of 5 percent for all taxable periods ending on or after December 31, 2025.”
“No person shall be subject to tax under RSA 77 solely due to its holding an ownership interest in a qualified investment company as defined in RSA 77-A:1, XXI.”
Official record
gc.nh.gov · the authoritative source
Sponsors
Public testimony
87 signed in online · 15 wrote testimony
74% support26% oppose0% neutral
In their wordsVerbatim, exactly as submitted
“The state has bills to pay. You can tax actual incoming cash, the money from interest and dividends over $20,000, or you can increase the property tax on the local level. The one taxpayer has $20,000 plus to use to cover this tax bill.…”
“The state is facing an enormous budget crisis. Property owners in towns, especially the more rural towns are seeing their property taxes skyrocket as the state continues to fall short of fulfilling its constitutional obligation to provide an adequate education.…”
“We are running out of funding because of owering taxes. This must be reinstated”
“I strongly oppose this Bill which is nothing more than legalized theft. This is a tax increase for which there is no identifiable need for this money.…”
Verbatim excerpts of submitted testimony, quoted from the testimony tool.
Read the testimony · as of Aug 12, 2026
Votes
yeanay- Feb 19, 2025HouseCommittee report· regular calendar: Inexpedient to Legislate16–3Overall84% yea
- Overall93% yeaRepublicans207–0100% yeaDemocrats138–2784% yea
Hearings and debates
- Feb 12, 2025Public hearingHouse Ways and Means1:53:58–1:55:541m 56slocated in the stream transcriptPublic Hearing
- Feb 19, 2025Public hearingHouse Ways and Means50:40–53:483m 8slocated in the stream transcriptMajority Committee Report: Inexpedient to Legislate — roll call; Executive Session
- Mar 6, 2025Floor debateHouse floor23:47–27:433m 56slocated in the stream transcriptInexpedient to Legislate — adopted, roll call 345-27
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
- Feb 12, 2025HousePublic Hearing: 02/12/2025 11:00 am LOB 203
- Feb 19, 2025HouseExecutive Session: 02/19/2025 10:15 am LOB 201
- Feb 21, 2025House==CANCELLED== Executive Session: 02/21/2025 10:15 am LOB 203
- Feb 19, 2025HouseMajority : Inexpedient to Legislate 02/19/2025 (Vote 16-3; RC) HC 14 P. 17
- Feb 25, 2025HouseMinority : Ought to Pass
- Mar 6, 2025HouseInexpedient to Legislate: MA RC 345-27 03/06/2025 HJ 7 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.