Committee Summary for House Ways and Means (01/21/2026)

Bill/Time	Type	Title	Sponsor
HB1597 00:05:01.919 - 9:03:53 AM	Public Hearing	relative to business profits tax expense deductions.	Janigian, John(R)[B+]2025
HB1599 00:44:11.280 - 9:43:03 AM	Public Hearing	allowing net operating losses to be carried forward in perpetuity following a loss year.	Janigian, John(R)[B+]2025
HB1546 01:07:51.039 - 10:06:43 AM	Public Hearing	repealing the business profits tax.	Ankarberg, Aidan(I)[IN]2025
HB1629 01:33:05.040 - 10:31:57 AM	Public Hearing	repealing the business enterprise tax.	Ankarberg, Aidan(I)[IN]2025
HB1546 01:35:37.520 - 10:34:29 AM	Executive Session	repealing the business profits tax.	Ankarberg, Aidan(I)[IN]2025
HB1629 01:40:12.560 - 10:39:04 AM	Executive Session	repealing the business enterprise tax.	Ankarberg, Aidan(I)[IN]2025
Unclear 01:44:41.119 - 10:43:33 AM	General Working Session	Unclear
HB1668 03:05:03.760 - 12:03:55 PM	Public Hearing	relative to the application of the Internal Revenue Code to provisions of the business profits tax.	Osborne, Jason(R)[A+]2025
HB1063 03:24:45.600 - 12:23:37 PM	Executive Session	reducing the amount of meals and rooms taxes operators can retain.	Petrigno, Peter(D)[F]2025
HB1624 03:31:15.520 - 12:30:07 PM	Public Hearing	relative to the elimination of certain special funds.	McGuire, Dan(R)[A]2025
HB1102 04:13:02.720 - 1:11:54 PM	Public Hearing	increasing the research and development tax credit cap.	Janigian, John(R)[B+]2025
HB1420 04:53:47.040 - 1:52:39 PM	Public Hearing	creating a temporary local newspaper advertisement tax credit.	Perez, Kristine(R)[B+]2025

HB1597: Jordan Elder Information Only00:05:01.919 - 9:03:53 AM; Jordan Elder, acting as chair, welcomes attendees to the Ways and Means committee and introduces Chairman Janigian to present House Bill 1597.
HB1597: Chairman Janigian Information Only00:05:38.080 - 9:04:30 AM; Chairman Janigian explains that HB1597 proposes increasing the business profits tax first-year depreciation deduction from $500,000 to $2,500,000 to align with the IRS code. This aims to incentivize new investments in machinery and business growth, boosting the economy. The change would simplify compliance for businesses and take effect January 1, 2027, to avoid immediate fiscal issues. He notes the bill is simple and invites questions. During Q&A, he confirms the bill simplifies tax administration, reduces compliance burdens, makes New Hampshire more investment-friendly, and provides clearer rules. He discusses the fiscal note indicating an indeterminate decrease, with a maximum impact of $8.3 million annually, based on static analysis. He hopes dynamic effects from increased investment and business activity will offset losses. On federal changes, he acknowledges the difficulty in predicting or decoupling from frequent IRS adjustments.
HB1597: Sarah Scott, Americans for Prosperity Support00:10:47.120 - 9:09:39 AM; Sarah Scott testified in support of HB1597, explaining that it modernizes New Hampshire's tax code by increasing the section 179 expensing cap from $500,000 to $2.5 million, aligning with the federal standard. This allows businesses to deduct qualifying equipment and capital investments immediately rather than depreciating over time, improving cash flow and encouraging reinvestment. She highlighted New Hampshire's efforts to become more business-competitive, such as lowering the business profits tax, and noted that the state ranks high in overall tax competitiveness but low in business tax structure due to the outdated cap. Scott emphasized that this is a timing issue, not a permanent revenue loss, and would prevent businesses from delaying investments or relocating. She addressed questions on revenue impacts, priorities like housing and childcare, historical revenue effects, job creation, and applicability to smaller businesses or employee benefits, deferring some specifics but affirming the bill's pro-growth benefits.
HB1597: John Reynolds, NFIB Support00:22:54.320 - 9:21:46 AM; John Reynolds, state director for the National Federation of Independent Business (NFIB), testified in support of HB1597, representing over 1,700 small businesses in New Hampshire, mostly with fewer than 20 employees. He described section 179 as a key tool for investment and growth, providing an example of a Laconia company that repaired large electric motors and used the federal deduction to upgrade equipment, enabling them to offer a 401k with matching for employees for the first time. Reynolds noted that Connecticut and New Hampshire are the only New England states not conforming to the 2017 federal increase in the limit, and many states roll with federal conformity. He had to leave early for another commitment but offered to answer questions.
HB1597: Jennifer Ramsey and Fred Kulroth, New Hampshire Department of Revenue Administration Information Only00:25:30.640 - 9:24:22 AM; Jennifer Ramsey, tax policy counsel, introduces Fred Kulroth, director of audit, as the expert on business profits tax. She notes a technical issue in the bill lacking a specific applicability date, suggesting it could affect earlier tax years, and recommends adding an applicability sentence to clarify that prior provisions apply until tax year 2027. She discusses the $8.3 million fiscal impact estimate based on tax year 2023 static analysis, explaining it doesn't account for offsetting effects like reduced depreciation deductions, making it potentially a timing issue rather than a net loss, though not certain due to factors like business continuity. She indicates the provision would somewhat simplify tax administration and defers to Fred on implementation and specific questions about uses like building homes or child care facilities.
HB1597: Fred Kulroth, New Hampshire Department of Revenue Administration Information Only00:28:27.279 - 9:27:19 AM; Fred explains that Section 179 allows immediate deduction of capital expenditures, such as equipment, machinery, tangible personal property, fixtures, and improvements to real estate like roofs, HVACs, and security systems, up to the applicable cap, instead of depreciating over time. Regarding using it for daycare facilities or homes, it depends on the specific expenses incurred; some might qualify immediately, while others could be deducted differently. He notes that federally, the deduction phases out for businesses with capital expenditures exceeding $2.5 million, not limited strictly to small or mid-size businesses but to those below the threshold.
HB1597: Unidentified Expert Information Only00:38:44.800 - 9:37:36 AM; The speaker explains that the federal deduction phases out based on capital expenditures rather than employee count. For example, two companies with a thousand employees each may have different eligibility depending on their capex spending. One spending over $4 million would phase out, while another under $2.5 million could take the full deduction.
HB1597: Committee Member Information Only00:39:36.400 - 9:38:28 AM; The committee member asks a follow-up question about whether the phase-out applies to all businesses within a combined group or each separately.
HB1597: Unidentified Expert Information Only00:41:04.640 - 9:39:56 AM; The expert clarifies that for a combined group, each subsidiary or affiliate gets its own cap for the deduction and is subject to its own phase-out amount, regardless of how the group files taxes.
HB1597: Representative Information Only00:42:28.720 - 9:41:20 AM; The representative questions whether eligibility depends on tax filing method, such as independent entities versus a single filing, and the expert confirms it does, with each subject to its own phase-out.
HB1597: Chair Information Only00:43:26.079 - 9:42:18 AM; The chair closes the hearing on HB1597, mentions extra copies of written testimony from DRA, and introduces the next bill HB1599 with sponsor Representative Janine of Salem.
HB1597: Representative Janine of Salem Support00:44:11.280 - 9:43:03 AM; The sponsor explains that HB1599 aligns New Hampshire's net operating loss (NOL) carryover with federal law, allowing indefinite carryover until used up, compared to the current 10-year limit. She notes that losses can offset future gains and questions the fiscal note's $88 million offset, asking if it refers to tax revenue or the base amount before the 7.5% rate.
HB1597: Representative Shamberg Information Only00:45:41.119 - 9:44:33 AM; Representative Shamberg asks if HB1599 would cause permanent erosion of future Business Profits Tax revenue needed for the general fund and education trust fund.
HB1597: Representative Janine of Salem Information Only00:46:27.680 - 9:45:19 AM; The sponsor acknowledges potential revenue decrease beyond 10 years but seeks clarification on the fiscal note. She responds affirmatively to the erosion question and inquires about long-term data on losses from surviving businesses.
HB1599: Representative Janine of Salem Support00:44:11.280 - 9:43:03 AM; The sponsor explains that HB1599 aligns New Hampshire's net operating loss (NOL) carryover with federal law, allowing indefinite carryover until used up, compared to the current 10-year limit. She notes that losses can offset future gains and questions the fiscal note's $88 million offset, asking if it refers to tax revenue or the base amount before the 7.5% rate.
HB1599: Representative Shamberg Information Only00:45:41.119 - 9:44:33 AM; Representative Shamberg asks if HB1599 would cause permanent erosion of future Business Profits Tax revenue needed for the general fund and education trust fund.
HB1599: Representative Janine of Salem Information Only00:46:27.680 - 9:45:19 AM; The sponsor acknowledges potential revenue decrease beyond 10 years but seeks clarification on the fiscal note. She responds affirmatively to the erosion question and inquires about long-term data on losses from surviving businesses.
HB1599: Representative Janine, Salem Support00:47:29.599 - 9:46:21 AM; Responds to questions about the bill's fiscal impact, explaining it aligns NH with IRS code for simplicity and is business-friendly by allowing more time for companies to recover losses. Acknowledges potential $88 million revenue decrease over 10 years and suggests further study given current revenue climate.
HB1599: Representative Cole Information Only00:48:43.760 - 9:47:35 AM; Raises concerns about fiscal impacts, noting $4.2 billion in NOLs from 2012-2022 that expired, potentially allowing $360 million deduction if the bill passes. Highlights lack of fiscal notes at bill introduction and large tax implications requiring scrutiny.
HB1599: Representative Spar Information Only00:49:53.680 - 9:48:45 AM; Clarifies fiscal figures: $316 million potential recapture over 10 years from expired NOLs, but some companies may fail; in 2023, $1.2 billion NOL used resulted in $88 million revenue loss. Extending NOLs may increase losses, but DRA can provide clarity.
HB1599: Representative Wars Support00:50:51.280 - 9:49:43 AM; Points out $316 million figure is over 10 years; questions if extending NOLs promotes growth, jobs, and revenue from surviving businesses versus losses from failed ones. Agrees it's business-friendly but suggests studying magnitude.
HB1599: Representative Opel Information Only00:52:17.200 - 9:51:09 AM; Asks about federal NOL rules: no annual cap beyond actual profits; can deduct up to profit amount each year, e.g., $10M loss offsets $2M profit partially, full if $10M profit.
HB1599: Representative Almy Information Only00:53:27.599 - 9:52:19 AM; Discusses perpetuity with historical examples like long-dormant trusts and businesses (Lincoln Land Institute, Amos Corporation, Franklin trusts, Hudson Bay). Wonders if dormant businesses reviving after centuries get face value losses without inflation; confirms no inflation adjustment, no deductions during dormant periods.
HB1599: Unidentified Representative Information Only00:56:10.400 - 9:55:02 AM; Asks if federal indefinite NOLs treat businesses more fairly; sponsor affirms alignment simplifies accounting and incentivizes growth for innovative businesses with initial losses.
HB1599: Jennifer Ramsey, Department of Revenue Administration Information Only00:58:22.400 - 9:57:14 AM; Clarifies fiscal note: In 2023, $1.2B NOL used offset profits, resulting in $88.5M revenue reduction after tax rate. No technical suggestions on bill; Fred Kulroth available for questions.
HB1599: Representative Tan Information Only00:59:11.680 - 9:58:03 AM; Questions impact on foreign companies shifting expenses to high-tax subsidiaries to show no profit, asking about NH losses from such entities.
HB1599: Fred Kulroth, Department of Revenue Administration Information Only01:00:33.599 - 9:59:25 AM; Explains each subsidiary gets its own NOL carryforward; bill only affects time limit post-10 years. Parent companies structure expenses across entities, including internationally, but NH impact limited to carryforward duration.
HB1599: Department of Revenue Administration Representative Information Only01:03:16.799 - 10:02:08 AM; The representative clarifies that the $88 million reduction was for 2023 under existing law. They discuss potential future revenue losses if NOLs extend beyond 10 years, estimating up to $100 million annually without a crystal ball. For tax year 2022, $4.2 billion in NOLs expired, which at 7.5% tax rate could offset up to $316 million in BPT revenue over time, assuming businesses remain viable and profitable.
HB1546: Representative Orus Oppose01:07:51.039 - 10:06:43 AM; Representative Orus introduces HB1546, which would eliminate the 7.5% business profits tax, removing its revenue stream. He opposes total elimination, arguing it would deprive the general fund and education trust fund of revenue. He advocates for gradual reductions, like those for the business enterprise tax, to find a 'sweet spot' where lowering rates increases revenue, based on historical trends. He warns that missing this spot creates problems, and responds to questions by noting potential shifts to local taxpayers, fees, or other taxes, and that downward trends have historically boosted revenues despite studies showing foregone revenue.
HB1629: Representative Ulery Information Only01:33:05.040 - 10:31:57 AM; Representative Ulery introduces HB1629 as vice chair, noting no prime sponsor is present, and declines questions.
HB1629: Representative (Unnamed) Information Only01:34:17.920 - 10:33:09 AM; The representative briefly comments that New Hampshire towns lack authority to levy new local taxes without approval, so eliminating business taxes would shift the burden to property taxpayers.
HB1546: Committee Vote01:35:37.520 - 10:34:29 AM; The committee opens executive session on HB1546. Representative Ulery moves inexpedient to legislate (ITL). No discussion. Roll call vote: 17 yes, 0 no. Motion passes, recommending ITL.
HB1629: Committee Vote01:40:12.560 - 10:39:04 AM; The committee opens executive session on HB1629. Representative Ulery moves ITL. Brief discussion notes the tax's uniqueness, its complementarity with BPT, deductions between them, and that no other state has this setup due to past lawsuits on liability. Roll call vote implied to pass ITL.
HB1629: Committee Members Vote01:43:36.480 - 10:42:28 AM; The committee voted on HB1629 to recommend Inexpedient to Legislate (ITL). The roll call resulted in 17 yes votes and 0 no votes, passing the motion unanimously.
Unclear: Chairman and Representatives Information Only01:44:41.119 - 10:43:33 AM; The chairman discussed the potential impact of an upcoming storm on Monday's schedule, which includes public hearings and executive sessions for multiple bills. To mitigate risks, all 14 bills were scheduled for both Monday and Wednesday. The chairman noted variables like snow and the number of Senate bills, estimating completion of public hearings by early February, work and exec sessions by late February before school vacation, with crossover on March 5th. Representatives asked about scheduling medical appointments and clarified crossover dates (March 5th for first committee reports, March 19th for all bills). Discussion touched on second committee bills and reducing meetings post-March 5th unless necessary. Light-hearted talk about multiple members sharing names and a $2 bill anecdote occurred.
HB1668: Representative Osborne, Rockingham (towns of Auburn, Candia, and Deerfield) Oppose03:05:03.760 - 12:03:55 PM; Representative Osborne introduced HB1668 but urged the committee to oppose it and support earlier bills addressing Section 179 deductions and net operating loss issues, which align with Tax Foundation recommendations to keep NH tax-friendly (ranked #3). He noted HB1668 does not increase deductions to $2.5 million as proposed elsewhere and involves rolling conformity, which he believes the committee has historically avoided. He emphasized maintaining NH's business attractiveness without this bill.
HB1668: Representative Shamburgg Information Only03:06:57.200 - 12:05:49 PM; Representative Shamburgg asked clarifying questions about HB1668, including whether it means federal tax law takes precedence over state law and if it transfers fiscal authority to Congress, increasing risks to state revenues without legislative approval.
HB1668: Jennifer Ramsey, Tax Policy Council, Department of Revenue Administration Information Only03:08:15.439 - 12:07:07 PM; Jennifer Ramsey clarified the definition of rolling conformity: it would update the reference to the federal tax code (currently fixed at 2018) automatically with federal changes, but NH decouples in specific areas would remain unless overridden. She offered materials comparing TCJA and IRC changes, noting fiscal analysis is pending and could be presented next week. She confirmed future federal changes would alter the state tax base automatically unless decoupled, and the document was sent digitally with updates forthcoming.
HB1668: Representative Elmy Information Only03:10:23.520 - 12:09:15 PM; Representative Elmy asked if the committee needs to read the bill fully now or wait for next week's fiscal updates.
HB1668: Representative Opal Information Only03:11:42.479 - 12:10:34 PM; Representative Opal inquired about digital distribution of the materials and confirmation of recirculation with changes.
HB1063: Vice Chair Information Only03:24:45.600 - 12:23:37 PM; The Vice Chair notes that a member offered an amendment in good faith but it was not presented sooner and not discussed with the primary sponsor. Given deadlines, suggests executing the bill as is and allowing the member to speak later.
HB1063: Representative (unnamed) Information Only03:25:51.200 - 12:24:43 PM; The representative was unaware the bill would be executed today despite open notice. Discusses concerns from hearing about impact on smaller businesses, which the amendment addresses. Requests delay until Monday to prepare the amendment.
HB1063: Chair Information Only03:27:02.880 - 12:25:54 PM; Thanks the representative for explanation and decides to hold off on executing HB1063 at this time.
HB1624: Representative Dan McGuire, Epsom Support03:31:15.520 - 12:30:07 PM; Introduces HB1624 as technical corrections from the joint committee on dedicated funds. Explains the committee reviews dedicated funds annually to ensure validity. Identifies three funds to eliminate: Radiation Long-Term Care Fund (empty, unnecessary due to federal oversight for Seabrook), Mosquito Control Fund (unused for 10 years), and New Hampshire Recovery Monument Fund (only $1,000, underlying RSA repealed; suggests transferring funds to alcohol abuse prevention). Notes a typo in the bill (RSA 49A should be 49P) and will provide an amendment. Provides report and fund balance documents.
HB1624: Representative Murphy Information Only03:36:07.200 - 12:34:59 PM; Asks if elimination encourages better governance and reduces state costs by ending useless activities. McGuire agrees it cleans up defunct funds.
HB1624: Representative Elms Support03:37:54.640 - 12:36:46 PM; Notes he initiated the dedicated funds review process, and over time they have eliminated 150 funds while total grew to over 300. Indicates progress in the work.
HB1624: Representative Bolton Information Only03:37:54.640 - 12:36:46 PM; Asks how long the process has been going and how long it will continue. McGuire explains it will continue as long as dedicated funds exist, with fewer issues over time as agencies improve reporting.
HB1624: Representative Bolton Information Only03:37:54.640 - 12:36:46 PM; Finishing testimony on HB1624, discussing potential for small biotech companies to grow large like Apple or Dell, and the limited impact of funding on small operations.
HB1624: Unidentified Speaker Support03:49:25.439 - 12:48:17 PM; Discusses personal experience running a small company with scientists, noting that the funding amount wouldn't make a difference but supports initial help for potential growth in biotech.
HB1624: Unidentified Speaker Support03:52:58.800 - 12:51:50 PM; Shares experience as a scientist, argues small companies can't get serious funding elsewhere, mentions voting against similar bills in the past but notes upcoming debate, and references a developer in support who aims to bring jobs and housing.
HB1624: Unidentified Speaker Oppose03:54:23.920 - 12:53:15 PM; Questions the value of funding, suggesting it won't cover significant hires and criticizes business decisions.
HB1624: Unidentified Speaker Information Only03:55:15.199 - 12:54:07 PM; Acknowledges the debate on the bill, notes everyone wants a piece of the funding, and discusses administrative processes.
HB1624: Unidentified Speaker Oppose03:56:15.520 - 12:55:07 PM; Expresses reluctance to fund larger companies through this process and concern about picking winners.
HB1624: Unidentified Speaker Information Only03:57:35.040 - 12:56:27 PM; Discusses scheduling of bills and emails, shifting to administrative matters.
HB1624: Unidentified Speaker Oppose03:58:50.160 - 12:57:42 PM; Criticizes the state acting as a venture capitalist, questions why certain companies should be picked, and notes potential for advantage-taking by larger entities.
HB1624: Unidentified Speaker Support03:59:45.520 - 12:58:37 PM; Supports the idea for operational differences and potential success down the road.
HB1624: Unidentified Speaker Information Only04:01:12.880 - 1:00:04 PM; Mentions current bill cap of $50,000 and discusses one-time vs. ongoing funding.
HB1624: Representative John Janigian, Rockingham 25 (Salem) Support04:04:08.160 - 1:03:00 PM; Introduces HB1102, which increases the research and development tax credit cap from $7 million to $10 million and per-company limit from $50,000 to $100,000. Aims to encourage R&D in tech and bioengineering, citing examples like Microsoft, Dell, and Apple starting small. Notes competition with states like Massachusetts and new companies in Salem.
HB1624: Representative Chamber Information Only04:06:48.399 - 1:05:40 PM; Thanks sponsor for materials on life sciences economy. Questions lack of performance, accountability, jobs retention, or outcome reporting tied to the credit.
HB1624: Representative Janigian (response) Information Only04:07:40.160 - 1:06:32 PM; Acknowledges the question is beyond the bill's scope, notes the program's utilization, and suggests future oversight by DRA.
HB1624: Representative Shamburg Information Only04:08:52.640 - 1:07:44 PM; Follows up on efficacy, asks for success stories of companies benefiting from the tax credit in NH.
HB1624: Representative Janigian (response) Information Only04:10:08.000 - 1:09:00 PM; Defers to upcoming speakers for specifics, notes multiple businesses signed up to testify.
HB1624: Representative Almy Information Only04:11:03.279 - 1:09:55 PM; Recalls past debates, mentions BIA's obscure reporting, and references South Carolina's approach to analyzing confidential data from businesses using such credits.
HB1624: Representative Elbert Oppose04:11:52.000 - 1:10:44 PM; Argues for accountability with taxpayer-funded organizations, comparing to personal home projects.
HB1624: Unidentified Representative Support04:13:02.720 - 1:11:54 PM; Asks if increasing the tax credit makes NH more competitive with other states and how NH compares currently.
HB1624: Representative Janigian (response) Support04:13:02.720 - 1:11:54 PM; Believes NH is on the low end compared to other states and defers to experts for details.
HB1102: Michael Skelton, BIA Support04:13:02.720 - 1:11:54 PM; Called to testify next after the sponsor's introduction.
HB1102: Mike Skelton, BIA Support04:13:39.199 - 1:12:31 PM; Mike Skelton, President and CEO of the Business and Industry Association of New Hampshire, testified in strong support of HB1102. He highlighted the BIA's long-term involvement with the R&D tax credit since its creation around 2007, noting its success in fostering growth in key sectors like life sciences and advanced manufacturing. He referenced recent reports from the state office of business and economic affairs on the growth of these industries, emphasizing New Hampshire's ranking as 13th in advanced industry job growth and 11th in innovation nationally. Skelton addressed questions on the credit's impact, arguing it has been fully subscribed and contributed to economic competitiveness, though modest compared to other states. He advocated for expanding the cap to keep pace with evolving policies and supported further analysis on its statewide geographic distribution and benefits to small businesses. During Q&A, he discussed accountability through industry growth metrics, the need for more energy to support innovation like AI, and the necessity of annual reviews to maintain competitiveness.
HB1102: Andrea Hetchavoria, New Hampshire Life Sciences Support04:36:00.799 - 1:34:52 PM; Andrea Hetchavoria, President and CEO of New Hampshire Life Sciences, a trade association established in 2023, testified in support of HB1102, building on Skelton's comments. She introduced the organization, representing major employers like Novo Nordisk, Lonza, Novacure, Millipore, and Sigma, as well as startups that utilize the R&D tax credit. Hetchavoria provided data from a 2023 state assessment showing over 600 life sciences companies in New Hampshire, contributing $4 billion to the economy with average wages of $130,000. She emphasized the credit's design for small to mid-sized companies, linking it to manufacturing and highlighting its oversubscription, with companies often receiving only 60-75% of requested amounts. She noted the high costs and risks of life sciences R&D, which takes about 10 years to reach market, and positioned New Hampshire's business-friendly policies as an advantage in attracting growth from neighboring states. Hetchavoria addressed questions on optimal cap levels, suggesting benchmarking against other states, and clarified that smaller companies, not large ones, primarily benefit from the state credit. She committed to providing additional information, including comparisons and white papers, promptly.
HB1102: David Peters, President of Elliott Controls, Amoris, New Hampshire Support04:46:35.200 - 1:45:27 PM; David Peters testified in support of HB1102, emphasizing the benefits to small downstream companies like his electrical contracting firm that provide building automation systems for high-tech clients such as laboratories. He shared an example of a multinational client that started with a small team in 2017 to develop cancer-curing technology, obtained a patent by 2019, and is building a laboratory in New Hampshire by 2025, investing $25 million despite high risks and long ROI timelines of 15-20 years. Peters highlighted the need for tax credits to attract R&D investments to New Hampshire, preventing the outflow to states like Wisconsin, Colorado, and international locations. He noted that 85% of his revenue comes from Massachusetts and urged incentives to foster local innovation and growth.
HB1420: Representative Christine Perez, Rockingham County 16, representing Londonderry Support04:53:47.040 - 1:52:39 PM; Representative Christine Perez introduced and supported HB1420, which provides a tax credit for New Hampshire-based businesses advertising in local newspapers or media outlets. She emphasized the 'double whammy' benefit: it helps small local newspapers stay viable amid declining numbers and supports small businesses with a cap of $3,000 in credits. Perez highlighted the importance of local media for communities, especially aging populations who prefer print over digital, and noted exclusions for out-of-state entities like the Dairy News. The credit is limited to local, documented outlets serving a certain percentage of residents, and she invited Lori Henson to testify further. Perez addressed questions, clarifying it's only for advertisers (not newspapers directly), requires NH-based businesses, and excludes political dark money groups.
HB1420: Lori Henson, Rebuild Local News Support04:58:56.160 - 1:57:48 PM; Lori Henson, from the nonpartisan nonprofit Rebuild Local News, supported HB1420 as a first-in-the-nation policy to bolster local news and small businesses. She explained the coalition's work with over 3,000 newsrooms and 15,000 journalists to advocate for policies strengthening community news. The tax credit returns 80% of advertising costs up to $3,000 for local businesses advertising in qualifying local media (newspapers, digital sites, broadcast, TV, radio), excluding big tech like Meta and Google, and 'pink slime' organizations using AI or nonhuman sources. Henson cited data showing NH lost 57% of local reporter jobs (740) from 2013-2023, ranking 26th in journalists per capita with fewer than nine per 100,000 residents. She noted the urgent need, as local news closures lead to higher borrowing costs, lower voter turnout, fewer candidate choices, more government waste, corruption, corporate crime, and polarization. The policy keeps public dollars local and supports essential coverage, with Kansas advancing a similar bill. Henson estimated many small businesses would apply, potentially dozens per news organization times the number of outlets, and addressed questions on implementation and caps.
HB1420: Lori Henson, Rebuild Local News Support05:09:50.080 - 2:08:42 PM; Lori Henson continues discussing the $5 million cap for the tax credit, explaining it is set to serve subscribing businesses and could be reconsidered if oversubscribed, which would indicate success. She clarifies that the credit applies only to news organizations producing news content with human journalists, excluding small town papers that are purely advertisements or coupon books like those from Spectrum. She emphasizes that the policy is innovative and the three-year period allows for data collection to improve it.
HB1420: Unidentified Committee Member Information Only05:11:12.400 - 2:10:04 PM; The committee member asks clarifying questions about eligibility, such as whether small town advertisement papers or coupon books qualify, and discusses what happens if the cap is reached, suggesting a review in three years similar to other programs.
HB1420: Unidentified Speaker from Upper Valley Information Only05:12:24.160 - 2:11:16 PM; The speaker from the Upper Valley in Valley News territory inquires about eligibility for local news organizations, mentioning a failed attempt to restart a paper in Claremont, and asks how the level of qualification is determined.
HB1420: Lori Henson, Rebuild Local News Support05:13:45.200 - 2:12:37 PM; Lori explains the bill's definitions for eligible local news organizations, which include those employing journalists to cover local communities, excluding purely advertiser or coupon-based publications, political C4 organizations, and big Silicon Valley companies. She notes it benefits various formats like radio, TV, newspapers, and digital sites. She confirms that Valley News and Concord Monitor, as sister corporations producing their own materials, would qualify.
HB1420: Deb Paul (introduced) Support05:14:32.320 - 2:13:24 PM; Lori requests permission for Deb Paul, a small business owner, to testify as she can better answer questions about local impacts.
HB1420: Representative M Information Only05:15:33.840 - 2:14:25 PM; Representative M expresses sympathy for newspapers based on personal experience and asks about ownership restrictions, specifically if local papers owned by out-of-state companies, like the National Telegraph, would qualify.
HB1420: Lori Henson, Rebuild Local News Support05:16:41.600 - 2:15:33 PM; Lori states the bill is intended for in-state ownership but many weeklies, including those owned by Miss Paul, will benefit if they serve New Hampshire communities and are based in the state.
HB1420: Representative Perez Information Only05:18:06.560 - 2:16:58 PM; Representative Perez raises concerns about the Department of Revenue Administration (DRA) needing to hire extra staff for tasks like eligibility checks and recapture, potentially releasing them after three years if unsuccessful, and questions the administrative burden.
HB1420: Deb Paul, Small Business Owner Support05:19:25.520 - 2:18:17 PM; Deb Paul argues that implementing the tax credit could be a simple calculation added to tax forms, emphasizing its value for maintaining local papers and supporting over 90% small businesses in New Hampshire. She provides a heartfelt endorsement, suggesting extension if successful, despite simplifying the technical aspects.
HB1420: Unidentified Committee Member Information Only05:20:44.240 - 2:19:36 PM; The member seeks clarification that the DRA must investigate small businesses and newspapers to ensure they meet the criteria.
HB1420: Lori Henson, Rebuild Local News Support05:21:58.160 - 2:20:50 PM; Lori clarifies that chains with in-state property and businesses qualify under the definition. She details qualifying factors for local news, including FCC definitions for broadcast and radio, employment of full-time journalists, weekly publication, media liability insurance, and 33% local audience, excluding political or coupon-based organizations.
HB1420: Deb Paul, London Times Support05:23:24.000 - 2:22:16 PM; Deb Paul, publisher of the London Times, shares her first-time experience testifying and highlights New Hampshire's status as an information desert due to declining local news outlets. She provides an example of a successful program in Rockingham County for training elderly care nurses, noting that 72% of applicants came from her newspaper's coverage, demonstrating how local media disseminates crucial state program information that people miss on websites or government channels. She stresses the importance of local government legal notices for community awareness, such as upcoming developments, enabling public participation in democracy. Paul criticizes online misinformation, contrasting it with accountable traditional media, and mentions running only nine corrections in 26 years. She discusses ownership of major NH papers by out-of-state entities but argues the bill aids sustainability and encourages new local outlets, citing her help in starting newsletters in Brentwood and Raymond. She laments NH having fewer community newspapers than Arkansas and calls for preserving journalism's watchdog role. During Q&A, she clarifies the amendment removes the $100,000 revenue requirement for digital newspapers, explains qualification criteria for local media (e.g., NH registration, local reporters), shares production costs ($2,500 mailing, $1,900 printing weekly post-tariffs, $1,400 operations), and emphasizes the symbiotic relationship between small papers and local businesses. She urges supporting true, factual journalism to build strong communities.
HB1420: Lauren O'Sullivan, Department of Revenue Administration Information Only05:39:57.760 - 2:38:49 PM; Lauren O'Sullivan, senior financial analyst at DRA, states the department takes no position on HB1420 but raises technical concerns for administration. She notes the amendment may address one issue but awaits confirmation. Key confusions include: whether the $3,000 limit in RSA 7-H:31 and 2 applies to expenditures or the credit itself (max $2,400), inconsistencies with $500,000 expenditure and $5 million credit caps per business/program, and unclear allocations across businesses. DRA assumes criteria apply at credit application with oath declarations, subject to audit, but some are hard to administer, like verifying 'fully owned and operated' local media for each ad placement, potentially requiring third-party experts and additional funding. She flags technical errors: reference to 'department of taxation and finance' (likely a copy-paste from another state), 'commissioner' possibly not meaning DRA's, and repeal language that might eliminate credit use the year after earning. DRA offers to work with the sponsor on fixes. In Q&A, she affirms language corrections are feasible with sponsor input, additional appropriations needed for third-party hires (possibly via budget or executive council), and discusses policy alternatives like direct tax credits to papers versus advertisers.

Janigian, John(Chairman)(R)[B+]2025	Ohm, Bill(Clerk)(R)[B+]2025	Ulery, Jordan(V Chairman)(R)[A-]2025
Almy, Susan(D)[F]2025	Oppel, Thomas(D)[F]2025	Smith, Steven(R)[B]2025
Malloy, Dennis(D)[CT]2025	Schamberg, Thomas(D)[CT]2025	Southworth, Thomas(D)[F]2025
Tierney, James(R)[B]2025	Cole, Brian(R)[A-]2025	Aures, Cyril(R)[B+]2025
Bolton, Bill(D)[F]2025	Elberger, Susan(D)[F]2025	Smith, Geoffrey(D)[D-]2025
Soti, Julius(R)[A+]2025	Spahr, Terry(D)[D-]2025	Bryer, Scott(R)[B]2025
Murphy, Mary(R)[B+]2025	Ford, Mary(R)[B+]2025