HB 562-FN-LOCAL - AS INTRODUCED
2015 SESSION
\t15-0161
\t04/01
HOUSE BILL\t\t562-FN-LOCAL
COMMITTEE:\tEducation
\tThis bill changes the amount of a municipality's stabilization grant and the circumstances under which a municipality would receive a stabilization grant. The also bill repeals the provision limiting the amount of the total education grant distributed to a municipality.
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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\t\tMatter which is either (a) all new or (b) repealed and reenacted appears in regular type.
\t15-0161
\t04/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Fifteen
AN ACT\trepealing the limitation on the total education grant distributed to a municipality in a fiscal year and reducing the stabilization grants to certain municipalities.
Be it Enacted by the Senate and House of Representatives in General Court convened:
\t1 Adequate Education; Determination of Grants. Amend RSA 198:41, IV(c) to read as follows:
\t\t\t(c) For fiscal year 2014, and each fiscal year thereafter, the department of education shall distribute a total education grant to each municipality in an amount equal to the total education grant for the fiscal year in which the grant is calculated plus 95.4 percent of the amount of the fiscal year 2012 stabilization grant, if any, distributed to the municipality. The stabilization grant of any municipality in which the ADMA decreases shall be reduced by an amount equal to the percentage of reduction in the municipality's ADMA. No stabilization grant shall be distributed to any municipality for any fiscal year in which the municipality's education property tax revenues collected pursuant to RSA 76 exceed the total cost of an adequate education or to any municipality for any fiscal year in which the municipality's ADMA is zero.
\t2 Repeal. RSA 198:41, III(b), relative to the maximum total education grant distributed to a municipality in a fiscal year, is repealed.
\t3 Applicability. The department of education shall apply the provisions of this act beginning with the adequate education grant calculations for the 2016-2017 school year, and each school year thereafter.
\t4 Effective Date. This act shall take effect July 1, 2015.
\t\t\t\t\t\t\t\t\t\t\t\t\tLBAO
\t\t\t\t\t\t\t\t\t\t\t15-0161
\t\t\t\t\t\t\t\t\t\t\t01/23/15
HB 562-FN-LOCAL - FISCAL NOTE
AN ACT\trepealing the limitation on the total education grant distributed to a municipality in a fiscal year and reducing the stabilization grants to certain municipalities.
FISCAL IMPACT:
METHODOLOGY: