Revision: March 27, 2014, midnight
SB 241 – AS INTRODUCED
2014 SESSION
05/03
SENATE BILL 241
AN ACT establishing the division of economic development fund.
SPONSORS: Sen. Odell, Dist 8; Rep. K. Williams, Hills 4
This bill establishes the division of economic development fund in the department of resources and economic development.
This bill was requested by 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
14-2661
05/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Fourteen
AN ACT establishing the division of economic development fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Subdivision; Division of Economic Development Fund. Amend RSA 12-A by inserting after section 61 the following new subdivision:
Division of Economic Development Fund
12-A:62 Division of Economic Development Fund. There is hereby established in the office of the state treasurer a fund to be known as the division of economic development fund. The commissioner of resources and economic development is authorized to accept public sector and private sector grants, gifts, or donations of any kind for the purpose of funding initiatives associated with the purpose of this subdivision. Such grants, gifts, and donations shall be deposited in the division of economic development fund and may only be expended by the commissioner of resources and economic development to accomplish the purposes of this subdivision. The state treasurer may invest moneys in the fund as provided by law, with interest received on such investment credited to the fund. The moneys in this fund shall be nonlapsing and shall be continually appropriated to the department of resources and economic development.
2 New Subparagraph; Division of Economic Development Fund. Amend RSA 6:12, I(b) by inserting after subparagraph (316) the following new subparagraph:
(317) Moneys deposited in the division of economic development fund under RSA 12-A:62.
3 Effective Date. This act shall take effect July 1, 2014.