Legislative Update: March 5, 2019
By BOB QUINN
Vice President of Government Affairs
Here are a few items being explored in the New Hampshire legislature that are of potential interest to the real estate community and being watched closely by your New Hampshire REALTORS government affairs team:
Voluntary seasonal dock registration option
House Bill 645 would create a voluntary registration process for existing seasonal docks, which means that any repair or replacement of that registered dock would be exempt from permitting requirement. The Department of Environmental Services (DES) has proposed the legislation.
According to DES, records of dock permits, especially pre-2000 permitted docks, are sometimes difficult to locate due to poor recordkeeping. Other docks may never have received proper permitting. This process would allow all seasonal dock owners to get into compliance. Registration would be entirely voluntary and would require photographs as well as size and configuration of the existing structure. The registration would require a $200 fee renewed every two years.
HB 645 is currently being discussed in the House Resource Committee.
Capital gains tax clears House
An attempt to create a 5 percent capital gains tax in New Hampshire passed the House last week. House Bill 686 would require that any capital gain reported on the taxpayer’s federal income tax return will be subject to the new tax. Revenue from the tax would be earmarked to reduce the statewide property tax.
The bill exempts capital gains income of $5,000 plus an additional $7,500 if either or both taxpayers are 65 years of age or older on the last day of the tax year. NHAR is opposed to the bill, as it could have negative impact on the second-home market as well as some commercial transactions.
The House is expected to place the language of the bill into its budget proposal.
Wood stove bill goes up in smoke
House Bill 290 would mandate that all wood stoves made prior to July 1, 1986 must be removed and destroyed upon the sale of a home in certain areas of the state.
NHAR was the only voice to testify in opposition. The full House agreed that mandating the removal of wood stoves would place an unfair burden on property owners and voted to kill the bill.
To view the most recent legislative chart, click here. If you have questions regarding these or any other pieces of legislation from the 2019 New Hampshire legislative session, please contact NHAR Vice President of Government Affairs Bob Quinn at email@example.com or 603-225-5549.
Amidst the sea of change to which the New Hampshire Association of REALTORS has played witness in its 85 years, one thing that has remained constant is the Realtor 'R' and the value we bring to every real estate transaction in which we take part. We are part of a unique community where our familial cooperation transcends our business competition. These are not mere platitudes, but our living ideals, and they are, in fact, the foundation on which we conduct ourselves in our day-to-day affairs.
Dan O'Halloran (at right), 2019 President, New Hampshire REALTORS