Also on today’s menu:
Drivers Face Felony Charges
Protecting Consumers From Excessive Fees
Radioactive Capsule Located On Roadside
When the New Hampshire Supreme Court ruled that, under the state’s constitution, the Granite State had an obligation to pay for an “adequate education” in its public schools, legislators got around the decision by narrowly defining what constitutes an adequate education and then, instead of dedicating state revenues to meet the obligation, they established a Statewide Education Property Tax (SWEPT), adding to the burden of residents already saddled with property taxes to pay for local schools, municipal operations, and county expenses. The new local taxation was deemed a state revenue — what I might term a SRINO (State Revenue In Name Only) — with the proceeds going into the Education Trust Fund which then would reallocate the money back to the municipalities based on a formula that took into consideration factors such as school attendance and the ability of those communities to pay.
No one was satisfied with the new tax, least of all the towns that ended up as donors — paying more into the Education Trust Fund than they received back from the state. It has led to years of back-and-forth jockeying that, at present, allows the so-called donor towns to retain money that exceeds what is required under the formula rather than sending that excess revenue to communities with lower property wealth, as originally envisioned by the legislation.
On January 31, the House Ways and Means Committee heard testimony on House Bill 569, which would return to equitable collections and establish a committee to study ways to expand the tax relief program. The bill would render moot a lawsuit filed by residential and commercial property owners in several towns who argue that the SWEPT is unconstitutional because of the lower rates afforded to about 50 communities, resulting in the tax not being proportional or reasonable as the constitution requires.
No one opposed the bill, introduced by Representative Richard Ames (D-Jaffrey) at the public hearing, but those from donor towns are likely to weigh in later.
Drivers Face Felony Charges
Adriana Dion, 33, of Dover is facing Class B felony charges of reckless conduct with a motor vehicle and criminal mischief, Class A misdemeanor charges of disobeying a police officer and resisting arrest, and reckless operation, operating a motor vehicle on a suspended registration, and lane control violations following a car chase on January 31.
State Police Trooper Matthew Bailey had attempted to stop the 2005 Honda Civic on Route 11 in Farmington for speeding and a registration violation, but Dion fled onto Route 153 and led Bailey in a pursuit through Farmington, Milton, and Middleton, into Wolfeboro, where Bailey lost control of the car and crashed into a snowbank on Route 28. Bailey allegedly remained non-compliant and, after booking, was released on personal recognizance bail pending an appearance at Strafford County Jail on March 9.
Meanwhile, Lucas Jones, 25, of Center Barnstead turned himself in to police on January 30 where he was wanted for felony reckless conduct and criminal threatening in relation to a road rage incident on January 29 in Lincoln. Jones had reportedly brandished a firearm and pointed it at another party while traveling on Interstate 93 around 5:30 p.m. on Sunday.
Protecting Consumers From Excessive Fees
The Consumer Financial Protection Bureau has proposed a rule to curb excessive credit card late fees that cost American families an estimated $12 billion each year. Credit card issuers have been profiting from late fees that have increased with inflation, even when the companies had no additional collection costs. The proposed rule could reduce late fees by as much as $9 billion per year.
Director Rohit Chopra said, “Over a decade ago, Congress banned excessive credit card late fees, but companies have exploited a regulatory loophole that has allowed them to escape scrutiny for charging an otherwise illegal junk fee.” When cardholders miss a payment due date by even a few hours, the issuers may charge a late fee that exceeds the company’s collection costs and may not be needed to deter late payments, nor be justified based on the consumer’s conduct. The late fees also may be imposed on top of other consequences, such as a lost grace period on paying interest or a lower credit score.
The proposed rule would lower the immunity provision for late fees to $8 for a missed payment and end the automatic annual inflation adjustment. The proposed rule also would limit late fees to 25% of the consumer’s required payment.
Radioactive Capsule Located On Roadside
Australians are breathing a sigh of relief after a missing capsule containing a small quantity of Caesium-137, which could cause skin damage, burns, or radiation sickness, was located at the side of the road.
Australian mining company Rio Tinto uses a device containing the capsule as a density gauge for iron ore mined in the remote Kimberley region. Authorities believe a bolt securing the lead-lined gauge containing the capsule worked loose somewhere on the journey between the Rio Tinto mine site in the Pilbara region of Western Australia and Perth, potentially shaken loose by the vibrations of the truck. The capsule fell through a hole left by the missing bolt and was found south of the town of Newman.
Darren Klemm, commissioner of the Department of Fire and Emergency Services, said staff members inside a car traveling at 70km/h detected the capsule and used a hand-held radiation device to find the exact location on the ground. It is in a region remote enough that authorities do not believe anyone was harmed, but an investigation is ongoing to determine how the accident occurred and whether anyone could have been exposed.
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