HB 1385-FN-A (2016): making certain changes to business profits tax provisions affecting a business organization when owners sell or exchange ownership interests in the business.

HB 1385-FN-A (2016)

making certain changes to business profits tax provisions affecting a business organization when owners sell or exchange ownership interests in the business.

• Status: Died: the chambers did not agree on a version
• Term: 2015-2016
• House committee: Ways and Means
• Senate committee: Ways and Means
• Subject: Taxes - State

The Story

It was introduced on January 6, 2016 and referred to the House Ways and Means committee. The committee held a public hearing on January 12, 2016. The committee held work sessions on January 28, 2016 and March 1, 2016. The committee met in executive session on March 2, 2016 to vote on its recommendation. The committee voted 20–1 to recommend that the House pass it with changes (amendment 2016-0828h), and the report was placed on the consent calendar. The committee's amendment (2016-0828h) was adopted on a voice vote on March 9, 2016, changing the text of the bill. On March 9, 2016 the House voted to pass it with changes on a voice vote. It crossed to the Senate on March 17, 2016 and was referred to the Senate Ways and Means committee. The committee held a public hearing on March 29, 2016. The committee recommended that the Senate pass it with changes (amendment 2016-1465s). The committee's amendment (1465s) was adopted on a voice vote on April 28, 2016, changing the text of the bill. On April 28, 2016 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. On May 5, 2016 the Senate adopted “Reconsider the following action taken by this Body: Reconsider Third Reading and Final Passage, Rescind Order to Third Reading, and Reconsider the Vote on Ought to Pass with Amendment” on a voice vote, on a motion by Sen. Feltes. On May 5, 2016 the Senate voted to pass it with changes and ordered it to a third reading. On May 19, 2016 the House adopted “House Non-Concurs with Senate Amendment 1465s and Requests CofC” on a voice vote, on a motion by Rep. Major. On May 19, 2016 the Senate adopted “Refused to Accede to House Request For C of C” on a voice vote, on a motion by Sen. Boutin.

Sponsors

• Rep. Patricia Lovejoy (D - Rock 36) (prime sponsor)
• Rep. Norman Major (R - Rock 14)
• Rep. Patrick Abrami (R - Rock 19)

Hearings and Sessions

• January 12, 2016, 2:00 PM: public hearing, House Ways and Means, LOB202
• January 28, 2016, 10:30 AM: work session, House Ways and Means, LOB 202
• March 1, 2016, 1:00 PM: full committee work session, House Ways and Means, LOB 202
• March 2, 2016, 10:00 AM: executive session, House Ways and Means, LOB 202
• March 29, 2016, 9:45 AM: hearing, Senate Ways and Means, SH 103

Votes

• March 9, 2016, House: Ought to Pass with Amendment 0828h — voice vote, passed
• April 28, 2016, Senate: Ought to Pass with Amendment 1465s, NT — voice vote, passed
• May 5, 2016, Senate: Reconsider the following action taken by this Body: Reconsider Third Reading and Final Passage, Rescind Order to Third Reading, and Reconsider the Vote on Ought to Pass with Amendment — voice vote, passed
• May 5, 2016, Senate: Ought to Pass with Amendment — yeas 24, nays 0, passed
• May 19, 2016, House: House Non-Concurs with Senate Amendment 1465s and Requests CofC — voice vote, passed
• May 19, 2016, Senate: Refused to Accede to House Request For C of C — voice vote, passed

The Docket

Laws It Would Change

• RSA 77-A:4

Related Bills

• SB 342-FN (2016): relative to the sale or exchange of an interest in a business organization under the business profits tax.

From the General Court

• Bill text
• Bill status page
• Docket
• HC 14, page 44
• SC 12
• SC 16