HB 1268-FN (2002): relative to the net operating loss deduction under the business profits tax.

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BibTeX: @misc{bill-2002-hb1268, title = {HB 1268-FN (2002): relative to the net operating loss deduction under the business profits tax.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2002/hb1268}, note = {Accessed 24 Oct. 2026} }

HB 1268-FN (2002)

relative to the net operating loss deduction under the business profits tax.

Status: Signed into law
Term: 2001-2002
House committee: Ways and Means
Senate committee: Ways and Means
Subject: Taxes - State
Chapter law: 211

The Story

It was introduced on June 26, 2001 and referred to the House Ways and Means committee. The committee held a public hearing on January 3, 2002. The committee held a work session on February 6, 2002. The majority recommended that the House pass it with changes, and the minority recommended that the House pass it with changes, by a vote of 10–7. On March 6, 2002 the House voted to pass it with changes on a roll call 326–11. It crossed to the Senate on March 14, 2002 and was referred to the Senate Ways and Means committee. The committee held a public hearing on April 10, 2002. The committee recommended that the Senate pass it with changes (amendment 3380). On April 11, 2002 the Senate voted to pass it with changes on a voice vote. On April 11, 2002 the bill was referred to the Finance committee. On April 18, 2002 the Senate voted to pass it on a voice vote. A floor amendment (3603), offered by Sen. Gatsas, was adopted on a roll call 24–0 on April 18, 2002, changing the text of the bill. On April 18, 2002 the Senate adopted “OT3rdg” on a voice vote and ordered it to a third reading. On April 18, 2002 the Senate adopted “Sen. Gatsas Moves Reconsideration” on a voice vote. A floor amendment (3641), offered by Sen. Gatsas, was adopted on a voice vote on April 18, 2002, changing the text of the bill. A floor amendment (3647), offered by Sen. Below, was rejected on April 18, 2002. On April 18, 2002 the Senate again adopted “OT3rdg” on a voice vote and ordered it to a third reading. On April 25, 2002 the House voted to agree to the other chamber's changes on a voice vote. The bill was enrolled on May 2, 2002 — the final check of the text before it goes to the governor. The governor signed it on May 16, 2002, making it Chapter 211 of the session laws. It took effect on July 1, 2002.

Hearings and Sessions

January 3, 2002, 10:00 AM: hearing, House Ways and Means, RM202,LOB
February 6, 2002, 10:00 AM: subcommittee work session, House Ways and Means, RM202,LOB <Rep Hess>
April 10, 2002, 9:00 AM: hearing, Senate Ways and Means, SH 103

Votes

March 6, 2002, House: COMMITTEE MINORITY AMENDMENT{2845} — yeas 95, nays 241, failed
March 6, 2002, House: COMMITTEE REPORT: OTP/AM — yeas 326, nays 11, passed
April 11, 2002, Senate: Ought to Pass with Amendment — voice vote, passed
April 18, 2002, Senate: Adoption of amendment (3579s) Sen. Fernald/Sen. Pignatelli — yeas 12, nays 12, failed
April 18, 2002, Senate: Ought to Pass — voice vote, passed
April 18, 2002, Senate: Adoption of floor amendment (3603s) Sen McCarley/Sen. Larsen — yeas 24, nays 0, passed
April 18, 2002, Senate: OT3rdg — voice vote, passed
April 18, 2002, Senate: Sen. Gatsas Moves Reconsideration — voice vote, passed
April 18, 2002, Senate: OT3rdg — voice vote, passed
April 25, 2002, House: Concur — voice vote, passed

The Docket

June 26, 2001: Introduced and ref to Ways & Means; HJ78, p1996
December 17, 2001: Copy to Chairman on 12/18/2001 Report due on 2/21/2002
January 3, 2002: Hearing Jan 3 10:00 RM202,LOB
February 6, 2002: Subcom Work Session Feb 6 10:00 RM202,LOB <Rep Hess>
February 21, 2002: Maj Report OTP/AM for Mar 6 (vote 10-7;Reg)
February 21, 2002: Prop Maj Am{2756}; HC17, p661
February 21, 2002: Min Report OTP/AM
February 21, 2002: Prop Min Am{2845}(New Title); HC17, p661-662
March 6, 2002: Maj Comm Am{2756}, AA VV; Min Comm Am{2845}, AL RC(95-241); Passed with Am RC(326-11); HJ25,p1024-
March 6, 2002: 1030 + 1037
March 14, 2002: Introduced and Ref. to Ways & Means
April 10, 2002: Hearing; April 10, 2002, Room 103, SH, 9:00 a.m.; SC22
April 10, 2002: Committee Report; Ought to Pass with Amendment {3380},(New Title) [04/11/02]; SC24A, Pg.54
April 11, 2002: Ought to Pass with Amendment {3380},(New Title), AA, VV
April 11, 2002: Refer to Finance [Rule 24]
April 17, 2002: Committee Report Majority; Ought to Pass, [04/18/02]; SC26A
April 17, 2002: Committee Report Minority; Ought to Pass with Amendment {3579}, [04/18/02]; SC26A, Pg.17-18
April 18, 2002: Minority; Ought to Pass with Amendment {3579}, RC 12y - 12n, AF
April 18, 2002: Majority; Ought to Pass, MA, VV
April 18, 2002: Sen. Gatsas Floor Amendment {3603},(New Title), RC 24y - 0n, AA
April 18, 2002: OT3rdg, MA, VV
April 18, 2002: Sen. Gatsas Moves Reconsideration, MA, VV
April 18, 2002: Sen. Gatsas Floor Amendment {3641}, AA, VV
April 18, 2002: Sen. Below Floor Amendment {3647}, Division 6y - 14n, AF
April 18, 2002: OT3rdg, MA, VV
April 25, 2002: House Conc with Sen Am, Rep Alukonis MA VV; HJ38, p1443
May 2, 2002: Enrolled
May 2, 2002: Enrolled; HJ40, p1490
May 16, 2002: Signed by the Governor on 5/16/2002 Eff: 7/1/2002 Chap: 0211

Laws It Would Change

RSA 77-A:4