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NH SB652

Bill

Official Source

Status

Engrossed

2/26/2026

Primary Sponsor

Timothy Lang

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Modifies the Business Profits Tax credit limits for overpayment, slowing the previously scheduled reduction from 500% to 100% by extending the phase-down through 2041
  • Changes the December 31, 2029 credit cap from 250% to 450% of total tax liability
  • Changes the December 31, 2031 credit cap from 100% to 400% of total tax liability
  • Adds new graduated reductions: 350% (2033), 300% (2035), 250% (2037), 200% (2039), and 150% (2041)
  • Takes effect 60 days after passage; fiscal impact not yet determined by the Legislative Budget Assistant

Legislative Description

Changing the maximum award of tax credits for overpayment of due taxes.

Last Action

Public Hearing: 03/09/2026 12:15 am GP 159

3/9/2026

Committee Referrals

Ways and Means2/26/2026
Ways and Means1/22/2026

Full Bill Text

No bill text available