New Hampshire § 78-B:13 Distribution of Funds

New Hampshire Statutes

§ 78-B:13 — Distribution of Funds

New Hampshire·Title V TAXATION·Ch. 78-B TAX ON TRANSFER OF REAL PROPERTY

I.Tax revenue collected by RSA 78-B:1 shall be divided, with 39 percent of that total revenue deposited in the education trust fund established by RSA 198:39 and the remaining revenue deposited in the general fund.

II.The commissioner shall make quarterly estimates of the amount of additional revenues that will be produced by the increase in tax rate for the next fiscal year and shall certify such amounts to the state treasurer for deposit in the education trust fund established by RSA 198:39. Such estimates shall be certified on June 1, September 1, December 1, and March 1 of each year.

III.Annually, on or before October 1, the commissioner shall direct the state treasurer to transfer the sum of $5,000,000 from revenue collected pursuant to the tax imposed by RSA 78-B:1 to the affordab

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I. Tax revenue collected by RSA 78-B:1 shall be divided, with 39 percent of that total revenue deposited in the education trust fund established by RSA 198:39 and the remaining revenue deposited in the general fund.
II. The commissioner shall make quarterly estimates of the amount of additional revenues that will be produced by the increase in tax rate for the next fiscal year and shall certify such amounts to the state treasurer for deposit in the education trust fund established by RSA 198:39. Such estimates shall be certified on June 1, September 1, December 1, and March 1 of each year.
III. Annually, on or before October 1, the commissioner shall direct the state treasurer to transfer the sum of $5,000,000 from revenue collected pursuant to the tax imposed by RSA 78-B:1 to the affordable housing fund established in RSA 204-C:57.

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