HB 1607-FN-A (2010): relative to the reasonable compensation deduction under the business profits tax, creating a committee to study safe harbors and taxation of investment organizations, and deleting a provision relative to taxation of certain income accumulated in trust.

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MLA: “HB 1607-FN-A (2010): relative to the reasonable compensation deduction under the business profits tax, creating a committee to study safe harbors and taxation of investment organizations, and deleting a provision relative to taxation of certain income accumulated in trust.” Granite Record, https://graniterecord.org/bill/2010/hb1607. Accessed 24 Oct. 2026.
APA: Granite Record. (n.d.). HB 1607-FN-A (2010): relative to the reasonable compensation deduction under the business profits tax, creating a committee to study safe harbors and taxation of investment organizations, and deleting a provision relative to taxation of certain income accumulated in trust. Retrieved 24 Oct. 2026, from https://graniterecord.org/bill/2010/hb1607
Chicago: Granite Record. “HB 1607-FN-A (2010): relative to the reasonable compensation deduction under the business profits tax, creating a committee to study safe harbors and taxation of investment organizations, and deleting a provision relative to taxation of certain income accumulated in trust.” Accessed 24 Oct. 2026. https://graniterecord.org/bill/2010/hb1607.
BibTeX: @misc{bill-2010-hb1607, title = {HB 1607-FN-A (2010): relative to the reasonable compensation deduction under the business profits tax, creating a committee to study safe harbors and taxation of investment organizations, and deleting a provision relative to taxation of certain income accumulated in trust.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2010/hb1607}, note = {Accessed 24 Oct. 2026} }

HB 1607-FN-A (2010)

relative to the reasonable compensation deduction under the business profits tax, creating a committee to study safe harbors and taxation of investment organizations, and deleting a provision relative to taxation of certain income accumulated in trust.

Status: Signed into law
Term: 2009-2010
House committee: Ways and Means
Senate committee: Ways and Means
Subject: Taxes - State
Chapter law: 324

The Story

It was introduced on January 6, 2010 and referred to the House Ways and Means committee. The committee held a public hearing on January 14, 2010. The committee held work sessions on January 22, 2010, January 25, 2010, January 28, 2010, February 1, 2010 and February 5, 2010. The committee held a public hearing on February 9, 2010. The committee met in executive session on February 16, 2010 to vote on its recommendation. The minority of the committee recommended that the House kill it. On March 11, 2010 the House adopted “Special Order, First Order of Business After Lunch Break (Reps Eaton & Hess)” on a voice vote. A floor amendment (0785h) was adopted on a roll call 206–121 on March 11, 2010, changing the text of the bill. A floor amendment (0954h) was rejected on a division vote 162–166 on March 11, 2010. On March 11, 2010 the House failed “Reconsideration FLAM #0954h (Rep Eaton)” on a division vote 157–171. A floor amendment (0955h) was rejected on a roll call 151–174 on March 11, 2010. On March 11, 2010 the House voted to pass it on a roll call 183–144. It crossed to the Senate on March 17, 2010 and was referred to the Senate Ways and Means committee. The committee held a public hearing on April 6, 2010. The committee recommended that the Senate pass it with changes. The committee's amendment (1859s) was adopted on a voice vote on May 13, 2010, changing the text of the bill. On May 13, 2010 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. On May 19, 2010 the House adopted “House Non-Concurs with Senate AM & Requests Comm of Conf (Rep G.Richardson)” on a voice vote. On May 19, 2010 the Senate adopted “Accedes to House Request for Committee of Conference” on a voice vote, on a motion by Sen. Odell. A committee of conference met on May 25, 2010 and May 26, 2010 to try to settle the differences between the two chambers' versions of the bill. The bill was enrolled on June 2, 2010 — the final check of the text before it goes to the governor — and an enrolled bill amendment (2432) was adopted to correct technical errors found after passage. The governor signed it on July 20, 2010, making it Chapter 324 of the session laws.

Hearings and Sessions

January 14, 2010, 9:00 AM: public hearing, House Ways and Means, LOB 201-203
January 22, 2010, 1:00 PM: full committee work session, House Ways and Means, LOB 202
January 25, 2010, 1:00 PM: full committee work session, House Ways and Means, LOB 202
January 28, 2010, 1:00 PM: full committee work session, House Ways and Means, LOB 202
February 1, 2010, 1:00 PM: subcommittee work session, House Ways and Means, LOB 202
February 5, 2010, 10:00 AM: full committee work session, House Ways and Means, LOB 202
February 16, 2010, 10:30 AM: executive session, House Ways and Means, LOB 202
April 6, 2010, 11:00 AM: hearing, Senate Ways and Means, SH 100
May 25, 2010, 9:15 AM: committee of conference, LOB 202
May 26, 2010, 12:00 PM: committee of conference, LOB 202

Votes

March 11, 2010, House: Special Order, First Order of Business After Lunch Break (Reps Eaton & Hess) — voice vote, passed
March 11, 2010, House: AM 0785H — yeas 206, nays 121, passed
March 11, 2010, House: Adopt Floor Amendment — yeas 162, nays 166, failed
March 11, 2010, House: Reconsideration FLAM #0954h (Rep Eaton) — yeas 157, nays 171, failed
March 11, 2010, House: FLAM 0955H (REP MAJOR) — yeas 151, nays 174, failed
March 11, 2010, House: OTP/AM 0785H — yeas 183, nays 144, passed
May 13, 2010, Senate: Ought to Pass with Amendment 1859s, NT — voice vote, passed
May 19, 2010, House: House Non-Concurs with Senate AM & Requests Comm of Conf (Rep G.Richardson) — voice vote, passed
May 19, 2010, Senate: Accedes to House Request for Committee of Conference — voice vote, passed
June 2, 2010, Senate: Conference Committee Report 2337 — yeas 23, nays 1, passed

The Docket

January 6, 2010: Introduced 1/6/2010 and Referred to Ways and Means
January 14, 2010: Public Hearing: 1/14/2010 9:00 AM LOB 201-203 (Orig LOB 202)
January 22, 2010: Full Committee Work Session: 1/22/2010 1:00 PM LOB 202
January 25, 2010: Full Committee Work Session: 1/25/2010 1:00 PM LOB 202
January 28, 2010: Full Committee Work Session: 1/28/2010 1:00 PM LOB 202
January 29, 2010: ==CANCELLED== Full Committee Work Session: 1/29/2010 10:00 AM LOB 202
February 1, 2010: Subcommittee Work Session: 2/1/2010 1:00 PM LOB 202
February 5, 2010: Full Committee Work Session: 2/5/2010 10:00 AM LOB 202
February 9, 2010: Public Hearing On Proposed Amendment: 2/9/2010 1:00 PM LOB 202
February 16, 2010: Executive Session: 2/16/2010 10:30 AM LOB 202
February 18, 2010: Majority Comm Report: Ought to Pass with AM #0785h for Mar 10 (Vote 11-8; RC)
February 18, 2010: Proposed Majority Committee Amendment #0785h
February 18, 2010: Minority Committee Report: Inexpedient to Legislate
March 10, 2010: Special Ordered to Regular Place on Mar 11 Calendar, Without Objection
March 11, 2010: Special Order, First Order of Business After Lunch Break (Reps Eaton & Hess): MA VV
March 11, 2010: Amendment #0785h Adopted, RC 206-121
March 11, 2010: Floor Amendment #0954h (Rep Major) Failed, DIV 162-166
March 11, 2010: Reconsideration FLAM #0954h (Rep Eaton): MF DIV 157-171
March 11, 2010: Floor Amendment #0955h (Rep Major) Failed, RC 151-174
March 11, 2010: Ought to Pass with AM #0785h: MA RC 183-144
March 17, 2010: Introduced and Referred to Ways & Means
April 6, 2010: Hearing: April 6, 2010, Room 100, State House, 11:00 a.m.; SC14
May 5, 2010: Committee Report: Ought to Pass with Amendment 1859s, NT, 5/12/10; SC19
May 12, 2010: Without Objection, Chair moved to Special Order to 5/13/10
May 12, 2010: Committee Report: Ought to Pass with Amendment 1859s, NT, 5/13/10
May 13, 2010: Without Objection, Chair moved to Special Order to end of calendar
May 13, 2010: Committee Amendment 1859s, NT, AA, VV
May 13, 2010: Ought to Pass with Amendment 1859s, NT, MA, VV; OT3rdg
May 13, 2010: Passed by Third Reading Resolution
May 19, 2010: House Non-Concurs with Senate AM & Requests Comm of Conf (Rep G.Richardson): MA VV
May 19, 2010: Speaker Appoints: Reps Hatch, Vachon, Walsh & Lockwood
May 19, 2010: Sen. Odell Accedes to House Request for Committee of Conference, MA, VV
May 19, 2010: President Appoints: Senators Janeway, D'Allesandro and Odell
May 25, 2010: Conference Committee Meeting: 5/25/2010 9:15 AM LOB 202
May 26, 2010: Conference Committee Meeting: 5/26/10 12:00 PM LOB 202
May 28, 2010: Conferee Change; Senator Reynolds Replaces Senator Janeway
May 28, 2010: Conferee Change; Senator Hassan Replaces Senator Odell
May 28, 2010: Conference Committee Report 2337; House Amendment + New Amendment, Filed
June 2, 2010: Conference Committee Report 2337; RC 23Y-1N, Adopted
June 2, 2010: Conference Committee Report #2337 Adopted, VV
June 2, 2010: Enrolled Bill Amendment #2432 NT Adopted
June 2, 2010: Enrolled Bill Amendment #2432 (New Title) Adopted
June 2, 2010: Enrolled
June 2, 2010: Enrolled
July 20, 2010: Signed by the Governor 07/20/2010; Chapter 0324
July 21, 2010: I. Section 5 Effective 01/01/2011
July 21, 2010: II. Remainder Effective 07/20/2010

Laws It Would Change

Related Bills

SB 497-FN-A (2010): changing the business profits tax deduction for reasonable compensation for partnerships, limited liability companies, and sole proprietorships and modifying the interest and dividends tax statute to follow the definitions of interest and dividends used in the United States Internal Revenue Code.