SB 38-FN-A (1991): exempting dividends earned by investors in certain mutual funds from the interest and dividend tax.

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SB 38-FN-A (1991)

exempting dividends earned by investors in certain mutual funds from the interest and dividend tax.

Status: Signed into law
Term: 1991-1992
House committee: Ways and Means
Senate committee: Banks
Subject: Taxes - State
Chapter law: 297

The Story

It was introduced on January 3, 1991 and referred to the Senate Banks committee. The committee held a public hearing on February 7, 1991. The committee recommended that the Senate pass it. On March 14, 1991 the Senate voted to pass it on a voice vote. It crossed to the House on March 26, 1991 and was referred to the House Ways and Means committee. The committee held a public hearing on April 10, 1991. The committee held a work session on April 18, 1991. The committee held a public hearing on May 9, 1991. The majority of the committee recommended that the House pass it with changes unanimously, 15–0, and the report was placed on the consent calendar. On June 5, 1991 the House voted to pass it with changes on a voice vote. On June 11, 1991 the Senate voted to agree to the other chamber's changes on a voice vote. The bill was enrolled on June 12, 1991 — the final check of the text before it goes to the governor. The governor signed it on June 20, 1991, making it Chapter 297 of the session laws. It took effect on August 19, 1991.

Hearings and Sessions

February 7, 1991, 3:00 PM: hearing, Senate Banks, RM103,LOB
April 10, 1991, 10:00 AM: hearing, House Ways and Means, RM204,LOB
April 18, 1991, 11:00 AM: subcommittee work session, House Ways and Means, RM204,LOB
May 9, 1991, 10:00 AM: hearing, House Ways and Means, RM204,LOB

Votes

March 14, 1991, Senate: Ought to Pass — voice vote, passed
June 5, 1991, House: Ought to Pass with Amendment — voice vote, passed
June 11, 1991, Senate: Concur — voice vote, passed

The Docket

January 3, 1991: INTRODUCED AND REF TO BANKS
February 7, 1991: HEARING FEB07 03:00 RM103,LOB FOR: BANKS
March 13, 1991: COMM REPORT OTP MAR14
March 14, 1991: PASSED VV; SJ10,P81 + 98
March 26, 1991: INTRODUCED AND REF TO WAYS & MEANS; HJ60,P1367
April 10, 1991: HEARING APR10 10:00 RM204,LOB FOR: WAYS & MEANS
April 18, 1991: SUBCOM WORK SESSION APR18 11:00 RM204,LOB FOR: WAYS & MEANS
May 3, 1991: PROP COMM AM (NEW TITLE); HC72,P1653
May 9, 1991: HEARING ON PROP AM MAY09 10:00 RM204,LOB FOR: WAYS & MEANS
May 29, 1991: MAJ REPORT OTP/AM FOR 06/05/91 (VOTE 15-0;CC)
June 5, 1991: PROP COMM AM (NEW TITLE); HC87;P1947
June 5, 1991: REP D. SYTEK SUSP RULES TO CONSIDER, MA 2/3VV; COMM AM, AA VV; PASSED WITH AM VV; HJ89,P1963-1964
June 11, 1991: SEN CONC WITH HOUSE AM, SEN FRASER MA VV; SJ30,P553
June 12, 1991: ENROLLED; SJ31,P629
June 12, 1991: ENROLLED; HJ91,P2032
June 20, 1991: SIGNED BY THE GOVERNOR 06/20/91 EFF. 08/19/91 CHAP.0297

Laws It Would Change

RSA 77