Revision: Dec. 22, 2011, midnight
SB 324-FN – AS INTRODUCED
2012 SESSION
04/03
SENATE BILL 324-FN
AN ACT relative to the use of funds generated by the Hampton Beach parking facilities.
SPONSORS: Sen. Stiles, Dist 24; Rep. Waddell, Rock 15; Rep. Nevins, Rock 15; Rep. K. Sullivan, Rock 15
This bill revises the allocation of funds between the Hampton Beach parking meter fund and the Hampton Beach capital improvement fund.
This bill is a request of the department of resources and economic development.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
12-3012
04/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twelve
AN ACT relative to the use of funds generated by the Hampton Beach parking facilities.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Operation of Beach Parking Facilities. Amend RSA 216:3, II to read as follows:
II. The state treasurer shall establish a special nonlapsing fund, which shall only lapse pursuant to paragraph III, for the revenues from the state parking facilities at Hampton Beach. [Fifty percent of the] Payments for principal and interest of bonds and notes that are issued for the project of replacing the steel seawall with a concrete seawall in the Hampton Beach area shall be paid from this fund. [If the revenues from the parking facilities at Hampton Beach exceed $1,025,000 for the fiscal year, all revenues in excess of $1,025,000 shall be transferred prior to the close of the fiscal year from this fund to the Hampton Beach capital improvement fund established in paragraph IV] The sum of $350,000 shall be transferred from this fund into the Hampton Beach capital improvement fund established in paragraph IV each year to cover debt service and capital expenditures. The remaining balance of the parking meter receipts shall be used to cover the costs of operation of the seacoast area state parks to include appropriate levels of staffing to meet the service needs of seacoast area state parks.
2 Effective Date. This act shall take effect 60 days after its passage.
LBAO
12-3012
12/15/11
SB 324-FN - FISCAL NOTE
AN ACT relative to the use of funds generated by the Hampton Beach parking facilities.
FISCAL IMPACT:
The Legislative Budget Assistant has determined that this legislation has a total fiscal impact of less than $10,000 in each of the fiscal years 2012 through 2016.