Section 162-L:10 – New Investment Tax Credit.
162-L:10 New Investment Tax Credit. – I. An investment tax credit equal to 75 percent of the contribution made to the authority during the contributor’s tax year shall be allowed against any of the following individually or in combination: (a) Taxes imposed by RSA 77-A. (b) Taxes imposed by RSA 400-A. (c) Taxes imposed […]
Section 162-L:11 – Definitions.
162-L:11 Definitions. – In this subdivision: I. " Authority " means the community development finance authority established by RSA 162-L:2. II. " Chief executive officer " means the chief executive of the municipality, whether the official designation is mayor, city manager, chairman of the board of selectmen, or otherwise. III. " Committee " means […]
Section 162-L:12 – Program Goals.
162-L:12 Program Goals. – In allocating funds under the community development block grant program, the authority shall give priority to activities that: I. Benefit low and moderate income households. II. Aid in the prevention or elimination of slum or blight. III. Aid in the prevention or elimination of conditions which pose a serious or […]
Section 162-L:13 – Eligible Activities.
162-L:13 Eligible Activities. – A wide range of community development activities shall be eligible for funding. These may include, but are not limited to: I. The acquisition, rehabilitation, or expansion of housing. II. The creation, expansion, or retention of employment through the stimulation of private investment and community revitalization. III. The installation, rehabilitation, or […]
Section 162-L:14 – Grant of Powers to Municipalities.
162-L:14 Grant of Powers to Municipalities. – I. All municipalities not designated as entitlement municipalities under the federal act are authorized to apply with the authority for funds and are granted such additional authority and power, essential and incidental, as may be necessary for the administration of this program. II. Prior to filing an […]
Section 162-L:15 – The New Hampshire Community Development Advisory Committee.
162-L:15 The New Hampshire Community Development Advisory Committee. – I. There is established the community development advisory committee which shall be provided staff and administrative assistance by the authority. II. The committee shall consist of 11 voting members as follows: (a) The chairperson of the board of directors of the community development finance authority, […]
Section 162-L:16 – Powers and Duties of the Authority.
162-L:16 Powers and Duties of the Authority. – I. The authority shall be responsible for the former functions, duties, and responsibilities of the office of state planning relative to administration of the community development block grant program and shall, with the consent of the committee and with the approval of the governor and council […]
Section 162-L:17 – Procedures for Administration.
162-L:17 Procedures for Administration. – I. All funds allocated to the state under the federal act, except for an amount not exceeding the maximum allowable under the federal act available to the state for administrative costs, shall be allocated to eligible municipalities. II. All municipalities shall be eligible to apply for and receive funds […]
Section 162-L:18 – Remedies for Noncompliance.
162-L:18 Remedies for Noncompliance. – I. If the authority finds, after reasonable notice and opportunity for hearing, that a grantee under this subdivision has failed to comply substantially with the provisions of this subdivision, the rules adopted under this subdivision, or applicable provisions of federal law, the authority may: (a) Terminate payments to the […]
Section 162-L:19 – Status of State Employees.
162-L:19 Status of State Employees. – Classified employees of the office of planning and development responsible for administration of the community development block grant program shall be transferred to the community development finance authority. Any person employed in such a position at the time of the transfer shall be deemed an employee of the […]