Amendment vs bill Amendment #2022-1136s vs latest version

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HB 527 - AS AMENDED BY THE HOUSE 5Jan2022...
Sen.
2185h SESSION 21-0662 04/08 HOUSE BILL 527 AN ACT relative to the charitable gift annuities exemption.
Soucy, Dist 18 Sen.
SPONSORS:
Perkins Kwoka, Dist 21 March 16, 2022 2022-1136s 10/05 Floor Amendment to HB 52 Amend RSA 662:1 as inserted by section 1 of the bill by replacing it with the following:
Rep.
3 662:1 U.S.
Infantine, Hills.
Representative Districts.
13 COMMITTEE:
The state is divided into 2 districts for the choosing of representatives in the congress of the United States.
Commerce and Consumer Affairs ───────────────────────────────────────────────────────────────── AMENDED ANALYSIS This bill adds an exemption for a qualified charitable gift annuity issued by a charitable organization.
Each district may elect one representative.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Explanation:
The districts shall be constituted as follows:
Matter added to current law appears in bold italics.
I.
Matter removed from current law appears [in brackets and struckthrough.] Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
The first district is constituted of:
HB 527 - AS AMENDED BY THE HOUSE 5Jan2022...
(a) The counties of:
2185h 21-0662 04/08 STATE OF NEW HAMPSHIRE In the Year of Our Lord Two Thousand Twenty One AN ACT relative to the charitable gift annuities exemption.
(1) Carroll, and (2) Strafford;
Be it Enacted by the Senate and House of Representatives in General Court convened:
and (b) In the county of Belknap, the towns and city of:
1 New Paragraph;
(1) Alton, (2) Barnstead, (3) Belmont, (4) Gilford, (5) Gilmanton, (6) Laconia, (7) Meredith, (8) New Hampton, (9) Sanbornton, and (10) Tilton;
Charitable Gift Annuities Exemption;
and (c) In the county of Grafton, the town of:
Definition of Qualified Charitable Gift Annuity.
(1) Campton;
Amend RSA 403-E:1 by inserting after paragraph V the following new paragraph:
and (d) In the county of Hillsborough, the towns and city of:
VI.(a) "Qualified charitable gift annuity" also means a charitable gift annuity described by section 501(m)(5), Internal Revenue Code of 1986 (26 U.S.C.
(1) Bedford, (2) Goffstown, (3) Manchester, and (4) Merrimack;
section 501(m)(5)), and section 514(c)(5), Internal Revenue Code of 1986 (26 U.S.C.
and (e) In the county of Merrimack, the town of:
514(c)(5)), that is issued by a charitable organization that on the date of the annuity agreement:
(1) Hooksett;
(1) Has a minimum of $25,000 in unrestricted cash, cash equivalents, or publicly traded securities, exclusive of the assets funding the annuity agreement;
and (f) In the county of Rockingham, the towns and city of:
(2) Has been in continuous operation for at least 3 years or is a successor or affiliate of a charitable organization that has been in continuous operation for at least 3 years;
(1) Auburn, Floor Amendment to HB 52 - Page 2 - (2) Brentwood, (3) Candia, (4) Chester, (5) Danville, (6) Derry, (7) East Kingston, (8) Epping, (9) Exeter, (10) Fremont, (11) Greenland, (12) Hampton, (13) Hampton Falls, (14) Kensington, (15) Kingston, (16) Londonderry, (17) New Castle, (18) Newfields, (19) Newington, (20) Newmarket, (21) Newton, (22) North Hampton, (23) Nottingham, (24) Plaistow, (25) Portsmouth, (26) Raymond, (27) Rye, (28) Sandown, (29) Seabrook, (30) South Hampton, and (31) Stratham.
(3) Issues charitable gift annuities with payout ratios no greater than recommended by the American Council on Gift Annuities at the time of issuance;
II.
and (4) Within 5 business days of receiving funds for a charitable gift annuity, re-insures said annuity by purchasing an annuity contract from a commercial insurance company licensed to transact business in the state of New Hampshire, and such insurer carrier assumes all risk, administration, and payment responsibility.
The second district is constituted of:
(b) A charitable organization that meets the requirements of subparagraph (a) may expend, or reallocate for current or future use, any residual balance that may remain after purchasing the commercially-insured annuity.
(a) The counties of:
2 Charitable Gift Annuities Exemption;
(1) Cheshire, (2) Coos, and (3) Sullivan;
Disclosures .
and (b) In the county of Belknap, the town of:
Amend RSA 403-E:3, II(a)(3)(B) to read as follows:
(1) Center Harbor;
(B) The annuities issued by the organization shall be limited to qualified charitable gift annuities, as defined in RSA 403-E:1, V or RSA 403-E:1, VI.
and Floor Amendment to HB 52 - Page 3 - (c) In the county of Grafton, the towns, city, and unincorporated place of:
3 Charitable Gift Annuities Exemption;
(1) Alexandria, (2) Ashland, (3) Bath, (4) Benton, (5) Bethlehem, (6) Bridgewater, (7) Bristol, (8) Canaan, (9) Dorchester, (10) Easton, (11) Ellsworth, (12) Enfield, (13) Franconia, (14) Grafton, (15) Groton, (16) Hanover, (17) Haverhill, (18) Hebron, (19) Holderness, (20) Landaff, (21) Lebanon, (22) Lincoln, (23) Lisbon, (24) Littleton, (25) Livermore, (26) Lyman, (27) Lyme, (28) Monroe, (29) Orange, (30) Orford, (31) Piermont, (32) Plymouth, (33) Rumney, (34) Sugar Hill, (35) Thornton, (36) Warren, Floor Amendment to HB 52 - Page 4 - (37) Waterville Valley, (38) Wentworth, and (39) Woodstock;
Disclosures .
and (d) In the county of Hillsborough, the towns and city of:
Amend RSA 403-E:3, II(b) to read as follows:
(1) Amherst, (2) Antrim, (3) Bennington, (4) Brookline, (5) Deering, (6) Francestown, (7) Greenfield, (8) Greenville, (9) Hancock, (10) Hillsborough, (11) Hollis, (12) Hudson, (13) Litchfield, (14) Lyndeborough, (15) Mason, (16) Milford, (17) Mont Vernon, (18) Nashua, (19) New Boston, (20) New Ipswich, (21) Pelham, (22) Peterborough, (23) Sharon, (24) Temple, (25) Weare, (26) Wilton, and (27) Windsor;
(b) Subsequently, each charitable organization that issues qualified charitable annuities shall, as part of its report submitted to the director pursuant to RSA 7:28, II and III, annually recertify that the annuities issued by the organization shall be limited to qualified charitable gift annuities, as defined in RSA 403-E:1, V or RSA 403-E:1, VI.
and (e) In the county of Merrimack, the towns and cities of:
4 Effective Date.
(1) Allenstown, (2) Andover, (3) Boscawen, (4) Bow, (5) Bradford, Floor Amendment to HB 52 - Page 5 - (6) Canterbury, (7) Chichester, (8) Concord, (9) Danbury, (10) Dunbarton, (11) Epsom, (12) Franklin, (13) Henniker, (14) Hill, (15) Hopkinton, (16) Loudon, (17) Newbury, (18) New London, (19) Northfield, (20) Pembroke, (21) Pittsfield, (22) Salisbury, (23) Sutton, (24) Warner, (25) Webster, and (26) Wilmot;
This act shall take effect 60 days after its passage.
and (f) In the county of Rockingham, the towns of:
(1) Atkinson, (2) Deerfield, (3) Hampstead, (4) Northwood, (5) Salem;
and (6) Windham.