Senator Lang announced significant updates regarding New Hampshire's revenue projections during the Senate Finance meeting on May 23, 2025. Following discussions with the Department of Revenue Administration (DRA) and a review of the House's revenue estimates, Lang revealed that some revenue figures are lower than previously anticipated. He plans to propose an amendment to House Bill 1 next week to adjust these projections based on new data from the DRA.

One key initiative highlighted by Lang is the introduction of a tax amnesty program, which the state typically implements every 10 to 15 years. This program allows individuals who owe back taxes to settle their debts without incurring penalties or interest. In past iterations, such programs have generated approximately $19 million in revenue during the first year. However, due to recent upgrades in the DRA's computer systems, Lang anticipates a more conservative estimate of $5 million for the upcoming budget cycle.

The new system is expected to enhance the DRA's ability to identify underreported income by cross-referencing federal and state tax returns, making it easier to collect owed revenue. Lang emphasized the importance of this initiative, urging residents to take advantage of the amnesty period to resolve any outstanding tax obligations before the state intensifies its collection efforts.

The meeting concluded with a motion to exit executive session, and the committee is set to reconvene later in the day. The discussions from this session underscore the state's proactive approach to managing its revenue and ensuring compliance among taxpayers, which could have significant implications for New Hampshire's financial health in the coming years.