CHAPTER 114
HB 1587 - FINAL VERSION
2016 SESSION
\t16-2374
\t10/01
HOUSE BILL\t1587
AN ACT\trelative to limitations on capital reserve funds of counties.
SPONSORS:\tRep. Irwin, Sull. 9
COMMITTEE:\tMunicipal and County Government
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ANALYSIS
\tThis bill increases the amount that can be appropriated annually by a county to a capital reserve fund.
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Explanation:\tMatter added to current law appears in bold italics.
\t\tMatter removed from current law appears [in brackets and struckthrough.]
\t\tMatter which is either (a) all new or (b) repealed and reenacted appears in regular type.
\t16-2374
\t10/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Sixteen
AN ACT\trelative to limitations on capital reserve funds of counties.
Be it Enacted by the Senate and House of Representatives in General Court convened:
\t114:1 Capital Reserve Funds; Counties; Limit on Appropriations. Amend RSA 35:8 to read as follows:
\t35:8 Limitations on Appropriations. No town, school district, or village district shall raise and appropriate in any one year for such reserve an amount in excess of 1/2 of one percent of the last base valuation for debt limit computed pursuant to RSA 33:4-b of said town or district; no county shall raise and appropriate for such reserve an amount in excess of [1/100] 1/50 of one percent of the last base valuation for debt limit computed pursuant to [RSA 33:4-b for all municipalities included in said county] RSA 33:4.
\t114:2 Effective Date. This act shall take effect 60 days after its passage.
Approved: May 20, 2016
Effective Date: July 19, 2016