Committee Reports

April 2009

The Economic Development and Fiscal Policy Committee welcomed newly appointed Department of Revenue Administration Commissioner Kevin Clougherty, the featured guest speaker at the April committee meeting. The commissioner spoke about his first few months on the job, his perspectives on customer service and top challenges for the department, including computer upgrades and transitioning to new office space.

The committee also reviewed the recently passed House version of the budget, focusing on new revenue sources. Specifically, the committee looked at proposals to transfer $110 million from the New Hampshire Medical Malpractice Joint Underwriting Association Post-1985 Account to the general fund; increase the tobacco tax by 38 cents; establish a tax on gambling winnings of more than $600; increase the rooms and meals tax from 8 percent to 8.75 percent; increase the gas tax by 15 cents during the next three years; add cigars, excluding premium cigars, and snuff to the definition of tobacco products and increase the tax rate for tobacco products other than cigarettes; freeze the insurance premium tax for two years; establish an 8 percent estate tax on estates exceeding $2 million; and establish a tax on capital gains under the interest and dividends tax.

The committee also discussed SB 40 relative to protecting workers and local governments with advance notice of impending plant closings and layoffs. The bill, which establishes state reporting requirements and civil penalties for non-compliance, has passed the Senate and is pending action in the House Labor Committee.