New Hampshire Revised Statutes 195-D:15 – Exemption From Taxation; Payments in Lieu of Taxes
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The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state, for the increase of their commerce, welfare and prosperity, and for the improvement of their health and living conditions, and will constitute the performance of an essential governmental function, and neither the corporation nor its agent shall or may be required to pay any taxes or assessment upon or in respect of a project or any property acquired or used by the corporation or its agent or under the jurisdiction, control, possession or supervision of the same or upon the activities of the corporation or its agent in the operation or maintenance of the project under the provisions of this chapter, or upon income or other revenues received therefrom, and any bonds, notes and other obligations issued under the provisions of this chapter, their transfer and the income therefrom, including any profit made on the sale thereof, as well as the income and property of the corporation, are at all times exempt from taxation of every kind by the state and by the municipalities and all other political subdivisions of the state; provided that the participating institution shall be required to make annual payments in lieu of taxes on;
I. Any project or any portion thereof owned by such participating institution or by the corporation pursuant to the provisions of this chapter if said project or any portion thereof would not be exempt from taxation pursuant to N.H. Rev. Stat. § 72:23 as amended and as in effect on the date that the findings of the designee of the governor and council are made for the particular project pursuant to N.H. Rev. Stat. § 195-D:21; or
II. Any portion or all of a project which provides permanent housing for married students, staff, or employees of a participating educational institution or permanent housing for staff, employees or relatives of patients of a participating health care institution. The amount of the annual payment in lieu of taxes shall be equal to that sum which would otherwise have been payable for real estate taxes on such project or part thereof pursuant to N.H. Rev. Stat. Chapter 74 and RSA 75. All such payments in lieu of taxes shall be made to the city or town in which such project or portion thereof is located on December 1 of each year. The corporation shall not be liable to make any such payments in lieu of taxes, except to the extent that moneys have been deposited with it for the specific purpose of making such payments in lieu of taxes. The liability for such payments in lieu of taxes shall constitute a general obligation of the participating institution. Upon any failure of such participating institution to make such payments in lieu of taxes as herein provided, no liens of any nature shall attach against any project, or any portion thereof, or against the assets or revenues of such participating institution, pledged to secure bonds or other obligations of the corporation for the period during which bonds or other obligations issued to finance the project are outstanding; provided, however, the city or town shall have a lien to secure the making of such payments in lieu of taxes which lien shall attach against all real estate of the participating institution not pledged, mortgaged or otherwise encumbered to secure bonds or other obligations of the corporation and which lien shall further attach against all real estate comprising the project but only on the date the bonds or other obligations issued to finance such project or part thereof have been fully retired. The corporation shall within 5 days of such date notify such city or town of the date on which the bonds or other obligations issued to finance the project or part thereof have been fully retired. The city or town may enforce the foregoing liens by a collector’s sale of property subject to such liens in the manner provided in RSA 80. Notwithstanding the foregoing provisions, the governing body of such city or town, as defined in N.H. Rev. Stat. § 203:3, III, may agree with such participating institution to waive its rights to such payments in lieu of taxes, or any portion thereof, over the period during which bonds or other obligations issued to finance the project are outstanding or for some lesser period of time.
I. Any project or any portion thereof owned by such participating institution or by the corporation pursuant to the provisions of this chapter if said project or any portion thereof would not be exempt from taxation pursuant to N.H. Rev. Stat. § 72:23 as amended and as in effect on the date that the findings of the designee of the governor and council are made for the particular project pursuant to N.H. Rev. Stat. § 195-D:21; or
Terms Used In New Hampshire Revised Statutes 195-D:15
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bonds: or the words "revenue bonds" means revenue bonds of the corporation issued under the provisions of this chapter, including revenue refunding bonds, notwithstanding that the same may be secured by the mortgage or the full faith and credit of a participating educational institution or of a participating health care institution or any other lawfully pledged security of a participating educational institution or of a participating health care institution. See New Hampshire Revised Statutes 195-D:3
- Corporation: means the New Hampshire health and education facilities authority created and established as a corporation and constituted and established as a public body corporate and agency of the state under N. See New Hampshire Revised Statutes 195-D:3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- governing body: shall mean the board of selectmen in a town, the board of aldermen or council in a city or town with a town council, the school board in a school district or the village district commissioners in a village district, or when used to refer to unincorporated towns or unorganized places, or both, the county commissioners. See New Hampshire Revised Statutes 21:48
- governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Participating educational institution: means an institution for postsecondary education or higher education; an institution for secondary education; an institution providing an educational program; or a child care provider which, pursuant to the provisions of this chapter undertakes the financing and construction or acquisition of a project or undertakes the refunding or refinancing of bonds or other obligations or of a mortgage or of advances as provided in and permitted by this chapter. See New Hampshire Revised Statutes 195-D:3
- Participating health care institution: means a hospital; nursing home; health maintenance organization; home health care provider; an institution providing a health care program; or ambulatory care clinic which, pursuant to the provisions of this chapter, undertakes the financing and construction or acquisition of a project or undertakes the refunding or refinancing of bonds or other obligations or of a mortgage or of advances as provided in and permitted by this chapter. See New Hampshire Revised Statutes 195-D:3
- Participating institution: means a participating educational institution or a participating health care institution. See New Hampshire Revised Statutes 195-D:3
- real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. Any portion or all of a project which provides permanent housing for married students, staff, or employees of a participating educational institution or permanent housing for staff, employees or relatives of patients of a participating health care institution. The amount of the annual payment in lieu of taxes shall be equal to that sum which would otherwise have been payable for real estate taxes on such project or part thereof pursuant to N.H. Rev. Stat. Chapter 74 and RSA 75. All such payments in lieu of taxes shall be made to the city or town in which such project or portion thereof is located on December 1 of each year. The corporation shall not be liable to make any such payments in lieu of taxes, except to the extent that moneys have been deposited with it for the specific purpose of making such payments in lieu of taxes. The liability for such payments in lieu of taxes shall constitute a general obligation of the participating institution. Upon any failure of such participating institution to make such payments in lieu of taxes as herein provided, no liens of any nature shall attach against any project, or any portion thereof, or against the assets or revenues of such participating institution, pledged to secure bonds or other obligations of the corporation for the period during which bonds or other obligations issued to finance the project are outstanding; provided, however, the city or town shall have a lien to secure the making of such payments in lieu of taxes which lien shall attach against all real estate of the participating institution not pledged, mortgaged or otherwise encumbered to secure bonds or other obligations of the corporation and which lien shall further attach against all real estate comprising the project but only on the date the bonds or other obligations issued to finance such project or part thereof have been fully retired. The corporation shall within 5 days of such date notify such city or town of the date on which the bonds or other obligations issued to finance the project or part thereof have been fully retired. The city or town may enforce the foregoing liens by a collector’s sale of property subject to such liens in the manner provided in RSA 80. Notwithstanding the foregoing provisions, the governing body of such city or town, as defined in N.H. Rev. Stat. § 203:3, III, may agree with such participating institution to waive its rights to such payments in lieu of taxes, or any portion thereof, over the period during which bonds or other obligations issued to finance the project are outstanding or for some lesser period of time.