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Lawmakers weigh taxing carbon credits on timberlands to keep towns whole
Summary
Representative Arnold Davis proposed amending RSA 79 (timber yield tax) to require a yield‑type tax on carbon sequestration payments, arguing existing timber tax rules let carbon projects avoid municipal revenue that historically came from timber harvests; supporters said the change protects rural budgets, opponents urged study and rulemaking.
The committee held an extended public hearing on House Bill 123, which would add carbon‑sequestration payments to RSA 79’s yield tax framework so municipalities receive a yield‑style tax on revenue generated by sales of forest carbon credits.
Representative Arnold Davis (Coös) framed the bill as a parity measure: historically New Hampshire taxed timber when it was harvested through a 10% yield tax rather than annually assessing standing timber. He said carbon projects — contracts that pay landowners for keeping trees standing and sequestering carbon — can effectively replace harvest income…
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