HB1230

HB1230 sets limits on New Hampshire's spending and tax rates, and establishes a process for contesting tax violations.

HB1230 amends state law to limit New Hampshire's annual spending increases to the 4-year moving average rate of inflation, up to 2.5 percent, plus the population change from the prior year. It also caps local taxing districts' spending increases similarly. Excess revenues up to 10 percent can be deposited in a rainy day fund, with any surplus refunded or, with voter approval, used to repay debts. The bill establishes a process for citizens to contest tax violations, entitling them to a jury trial and potential compensation if found in their favor.