Committee backs study of housing investment trusts, approves unamended measure to create study panel

The Senate Commerce Committee voted to pass House Bill 633, which creates a legislative study committee to examine implementation of housing investment trusts in New Hampshire.

At the hearing the sponsor, Representative Daniels, appeared and endorsed an amendment that would add a statutory definition of a housing investment trust and authorize early legal work and a 501(c)(3) pursuit in parallel with the study. Committee members asked whether the bill should be limited to a study, but Representative Daniels and several senators said allowing the sponsorship to pursue legal structuring as the study proceeds would shorten the multi‑year timetable that otherwise could delay implementation by up to a year.

Senator McGee spoke in favor, noting bipartisan support and urging the committee to move the concept forward. One committee member suggested a study committee would be the safer, incremental route and noted the study should examine whether government involvement was appropriate. After debate the committee rejected an amendment (vote recorded as 3‑3) and then passed the original House bill creating the study committee.

The committee recorded its motion to pass the unamended House Bill 633. No final vote tally by roll call was recorded in the hearing transcript; the clerk’s office will provide the formal report for the floor packet.