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

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BibTeX: @misc{bill-2016-sb342, title = {SB 342-FN (2016): relative to the sale or exchange of an interest in a business organization under the business profits tax.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2016/sb342}, note = {Accessed 24 Oct. 2026} }

SB 342-FN (2016)

relative to the sale or exchange of an interest in a business organization under the business profits tax.

Status: Signed into law
Term: 2015-2016
House committee: Ways and Means
Senate committee: Ways and Means
Subject: Taxes - State
Chapter law: 300

The Story

It was introduced on January 6, 2016 and referred to the Senate Ways and Means committee. The committee held a public hearing on February 2, 2016. The committee recommended that the Senate pass it with changes (amendment 2016-1021s). The committee's amendment (1021s) was adopted on a voice vote on March 24, 2016, changing the text of the bill. On March 24, 2016 the Senate voted to pass it with changes on a voice vote and ordered it to a third reading. It crossed to the House and was referred to the House Ways and Means committee. The committee held a public hearing on April 5, 2016. The committee met in executive session on April 12, 2016 and April 21, 2016. The committee voted unanimously, 15–0, to recommend that the House pass it with changes (amendment 2016-1308h), and the report was placed on the consent calendar. The committee's amendment (2016-1308h) was adopted on a voice vote on May 11, 2016, changing the text of the bill. On May 11, 2016 the House voted to pass it with changes on a voice vote. On May 19, 2016 the Senate voted to reject the other chamber's changes on a voice vote, on a motion by Sen. Boutin. On May 19, 2016 the House adopted “House Accedes to Senate Request for CofC” on a voice vote, on a motion by Rep. Major. A committee of conference met on May 23, 2016 and May 25, 2016 to try to settle the differences between the two chambers' versions of the bill. On June 1, 2016 the House adopted the conference report (2075c) on a voice vote. On June 1, 2016 the Senate adopted the conference report (2075c) on a roll call 24–0. The bill was enrolled on June 1, 2016 — the final check of the text before it goes to the governor. The governor signed it on June 21, 2016, making it Chapter 300 of the session laws. It took effect on June 21, 2016.

Hearings and Sessions

February 2, 2016, 10:00 AM: hearing, Senate Ways and Means, SH 103
April 5, 2016, 1:00 PM: public hearing, House Ways and Means, LOB 202
April 12, 2016, 11:00 AM: executive session, House Ways and Means, LOB 202
April 21, 2016, 10:00 AM: executive session, House Ways and Means, LOB 202
May 23, 2016, 12:00 PM: committee of conference, LOB 102
May 25, 2016, 12:15 PM: committee of conference, LOB 102

Votes

March 24, 2016, Senate: Ought to Pass with Amendment 1021s — voice vote, passed
May 11, 2016, House: Ought to Pass with Amendment 1308h — voice vote, passed
May 19, 2016, Senate: Nonconcur with House Amendment # 1308h, NT, Requests C of C — voice vote, passed
May 19, 2016, House: House Accedes to Senate Request for CofC — voice vote, passed
June 1, 2016, House: Adopt Conference Committee Report — voice vote, passed
June 1, 2016, Senate: Committee of Conference Report 2075c — yeas 24, nays 0, passed

The Docket

January 6, 2016: To Be Introduced 01/06/2016 and Referred to Ways and Means
February 2, 2016: Hearing: 02/02/2016, Room 103, SH, 10:00 am; SC3
March 23, 2016: Introduced 03/23/2016 and referred to Ways and Means
March 24, 2016: Committee Report: Ought to Pass with Amendment #2016-1021s , 03/24/2016
March 24, 2016: Committee Amendment 1021s, AA, VV; 03/24/2016
March 24, 2016: Ought to Pass with Amendment 1021s, MA, VV; OT3rdg; 03/24/2016
April 5, 2016: Public Hearing: 04/05/2016 01:00 PM LOB 202
April 12, 2016: Executive Session: 04/12/2016 11:00 AM LOB 202
April 21, 2016: Executive Session: 04/21/2016 10:00 AM LOB 202
April 26, 2016: ==CANCELLED== Full Committee Work Session: 04/26/2016 01:00 PM LOB 202
May 11, 2016: Committee Report: Ought to Pass with Amendment #2016-1308h (NT) for 05/11/2016 (Vote 15-0; CC)
May 11, 2016: Amendment #2016-1308h : AA VV 05/11/2016
May 11, 2016: Ought to Pass with Amendment 1308h: MA VV 05/11/2016
May 19, 2016: Sen. Boutin Moved Nonconcur with House Amendment # 1308h, NT, Requests C of C, MA VV; 05/19/2016
May 19, 2016: President Appoints: Senators Boutin, Bradley, D'Allesandro; 05/19/2016
May 19, 2016: House Accedes to Senate Request for CofC (Rep. Major): MA VV 05/19/2016
May 19, 2016: Speaker Appoints: Reps. Major, Abrami, Lovejoy, Lachance 05/19/2016
May 23, 2016: Committee of Conference Meeting: 05/23/2016, 12:00 pm, Room 102, LOB
May 25, 2016: Committee of Conference Meeting: 05/25/2016, 12:15 pm, Room 102, LOB
May 26, 2016: Conference Committee Report #2016-2075c Filed 05/26/2016; As Amended by the House
June 1, 2016: Conference Committee Report 2075c: Adopted, VV 06/01/2016
June 1, 2016: Conference Committee Report 2075c; RC 24Y-0N, Adopted; 06/01/2016
June 1, 2016: Enrolled 06/01/2016
June 1, 2016: Enrolled (In recess 06/01/2016)
June 21, 2016: Signed by the Governor on 06/21/2016; Chapter 0300; Effective 06/21/2016

Laws It Would Change

RSA 77-A:4