Bill Text - SB39 (2009)

(New Title) relative to municipal deposits and special meetings for considering an appropriate response to the American Recovery and Reinvestment Act of 2009.


Revision: Feb. 19, 2009, midnight

SB 39-FN-LOCAL – AS AMENDED BY THE SENATE

02/18/09 0292s

02/18/09 0417s

2009 SESSION

09-0981

08/09

SENATE BILL 39-FN-LOCAL

AN ACT relative to municipal deposits and special meetings for considering an appropriate response to the American Recovery and Reinvestment Act of 2009.

SPONSORS: Sen. Reynolds, Dist 2; Sen. Odell, Dist 8; Rep. Cooney, Graf 7; Rep. Laliberte, Graf 10

COMMITTEE: Public and Municipal Affairs

AMENDED ANALYSIS

This bill allows town treasurers to make certain deposits weekly and establishes special procedures to enable towns to respond appropriately to the American Recovery and Reinvestment Act of 2009.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

02/18/09 0292s

02/18/09 0417s

09-0981

08/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Nine

AN ACT relative to municipal deposits and special meetings for considering an appropriate response to the American Recovery and Reinvestment Act of 2009.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Municipal Deposits. Amend RSA 41:29, VII to read as follows:

VII. The treasurer shall ensure that all moneys remitted shall be deposited at least on a weekly basis, or daily whenever funds remitted from all departments collectively totals [$500] $1,500 or more. Such deposit function may be delegated pursuant to paragraph VI. However, failure to ensure that funds are being deposited on a timely basis as required by this paragraph shall be cause for immediate removal from office pursuant to RSA 41:26-d. In any municipality where there is either no bank or other depository institution within the municipality the treasurer shall make deposits consisting of funds remitted from all departments and collectively totaling $1,500 or more on a weekly basis or more frequently as directed by the board of selectpersons in the investment policy adopted pursuant to RSA 41:9, VII.

2 American Recovery and Reinvestment Act of 2009; Special Meeting; Appropriation and Expenditure of Funds. Notwithstanding any other provision of law to the contrary, any town, village district, or school district, including those towns that have adopted RSA 40:13, may call a special meeting, without court approval, to consider an appropriate response to the American Recovery and Reinvestment Act of 2009 or any similar act adopted by Congress in 2009. The legislative body at such a meeting may authorize the appropriation and expenditure of any funds allocated to the political subdivision by the federal act, the appropriation and expenditure of any local matching share, the issuance of bonds for any local share, and the adoption of a warrant article under the provisions of RSA 31:95-b. Such meetings shall be subject to the following:

I. Such town, village district, or school district shall post a notice, which shall include the warrant, at least 7 days prior to the meeting. Additional notice shall be posted on the political subdivision’s website and published in a newspaper of general circulation in the political subdivision, provided that if there is no website or no newspaper of general circulation which publishes between the date of notice and the date of the meeting, public notice shall be posted in at least 3 places within the political subdivision.

II. The governing body shall hold a public hearing on the proposed warrant articles at the town meeting.

III. The governing body of any town, village district, or school district that has adopted the provisions of RSA 40:13 may elect to follow the procedures of this section, or provide at least a 15 day period between the deliberative session and the vote for the purposes of proceedings under this section.

3 Repeal. Section 2 of this act, relative to the American Recovery and Reinvestment Act of 2009, is repealed.

4 Effective Date.

I. Section 1 of this act shall take effect 60 days after its passage.

II. Section 3 of this act shall take effect January 1, 2010.

III. The remainder of this act shall take effect upon its passage.

LBAO

09-0981

01/07/09

SB 39-FN-LOCAL - FISCAL NOTE

AN ACT relative to municipal deposits.

FISCAL IMPACT:

The NH Municipal Association states this bill may decrease local revenue and expenditures by an indeterminable amount in FY 2009 and each fiscal year thereafter. There will be no fiscal impact on state and county revenue or expenditures.

METHODOLOGY:

The NH Municipal Association states this bill increases from $500 to $1,500 the amount that shall be deposited daily by municipalities or weekly if there is no bank or other depository institution within the municipality or within 10 miles of the municipality. The Association states it is unable to determine the impact on revenue because it is unknown how many municipalities do not have a bank or other depository institution within 10 miles of that municipality. For those towns that meet the criteria, there would be an indeterminable loss of interest income if funds, particularly property tax payments and motor vehicle registration fees, are held for at least a week before deposit. There would also be an indeterminable decrease in expenditures for travel costs.

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