Revision: Dec. 30, 2009, midnight
SB 342-FN – AS INTRODUCED
2010 SESSION
09/03
SENATE BILL 342-FN
AN ACT repealing the $5,000 surety bond requirement for meals and rentals operators.
SPONSORS: Sen. Gallus, Dist 1; Sen. Downing, Dist 22; Sen. Carson, Dist 14; Rep. Ingersoll, Coos 4; Rep. R. Holden, Hills 7
This bill repeals the $5,000 surety bond requirement for meals and rentals operators.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
10-2722
09/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Ten
AN ACT repealing the $5,000 surety bond requirement for meals and rentals operators.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Repeal. RSA 78-A:8-b, I-a, relative to the $5,000 surety bond requirement for meals and rentals operators, is repealed.
2 Effective Date. This act shall take effect 60 days after its passage.
LBAO
10-2722
12/30/09
SB 342-FN - FISCAL NOTE
AN ACT repealing the $5,000 surety bond requirement for meals and rentals operators.
FISCAL IMPACT:
The Department of Revenue Administration states this bill will decrease state general fund revenues by $3,000,000 in FY 2010 and each year thereafter. There will be no fiscal impact on county and local revenue or on state, county, and local expenditures.
METHODOLOGY:
The Department of Revenue Administration states this bill repeals the surety bond requirement for meals and rentals operators. The Department assumes the effective date of 60 days after passage would allow for the bill’s impact to be felt in FY 2010, and each year thereafter. The Department assumed this surety bond requirement was originally put into place to assist the Department in resolving accounts receivable balances for meals and rentals operators, so the Department estimates the reversal of this requirement will lead to an annual loss of $3,000,000 of state general fund revenue.