Revision: March 15, 2013, midnight
SB 192-FN-LOCAL – AS AMENDED BY THE SENATE
03/14/13 0764s
2013 SESSION
06/05
SENATE BILL 192-FN-LOCAL
AN ACT establishing a committee to study the establishment of a state infrastructure bank.
SPONSORS: Sen. Carson, Dist 14; Sen. Rausch, Dist 19; Rep. Griffin, Rock 7; Rep. Renzullo, Hills 37; Rep. Stroud, Hills 21
This bill establishes a committee to study the establishment of a state infrastructure bank.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03/14/13 0764s
13-0888
06/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Thirteen
AN ACT establishing a committee to study the establishment of a state infrastructure bank.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Committee Established. There is established a committee to study the establishment of a state infrastructure bank.
2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) Three members of the senate, appointed by the president of the senate.
(b) Three members of the house of representatives, appointed by the speaker of the house of representatives.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
3 Duties. The committee shall study financial vehicles that would encourage private and local participation in surface transportation projects.
4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named senate member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Four members of the committee shall constitute a quorum.
5 Report. The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2013.
6 Effective Date. This act shall take effect upon its passage.
LBAO
13-0888
Revised 02/06/13
SB 192 FISCAL NOTE
AN ACT establishing a state infrastructure bank.
FISCAL IMPACT:
The Department of Transportation and Treasury Department state this bill, as introduced, will have an indeterminable fiscal impact on state expenditures for FY 2014 and each year thereafter. There is no fiscal impact on county and local revenues and expenditures.
METHODOLOGY:
The Department of Transportation (DOT) states this bill would establish a state infrastructure bank managed by DOT for the purpose of financing eligible surface transportation projects with favorable repayment terms. This bill would also establish the state infrastructure bank fund, a non-lapsing, continually appropriated revolving loan fund administered by the Treasury Department. DOT states it cannot determine the fiscal impact of this bill because several policy decisions have not been made, such as the total amount of funding desired to capitalize the bank, whether federal funds will be used, whether federal reauthorization will modify infrastructure bank funding requirements, or whether a dedicated source of state funding is established.
The Treasury Department states this bill will have an indeterminable fiscal impact on the Treasury Department. The Treasury Department assumes DOT will be responsible for all administration of the bank except for investment management. The Treasury Department assumes costs related to the bank’s investment management would be paid out of the fund, resulting in no incremental impact to the Treasury Department. The Treasury Department also assumes there will be some cost associated with issuing bonds, but it does not have information on which to base the timing or amount of such bond issue.