CHAPTER 127
SB 524 - FINAL VERSION
2016 SESSION
\t16-2962
\t05/09
SENATE BILL\t524
AN ACT\trelative to state procurement card rebates.
SPONSORS:\tSen. Stiles, Dist 24; Sen. Forrester, Dist 2; Sen. Carson, Dist 14; Rep. L. Ober, Hills. 37
COMMITTEE:\tExecutive Departments and Administration
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ANALYSIS
\tThis bill removes a reference in the law that permitted a portion of state procurement card rebates to be used to reduce the unfunded liability of the New Hampshire retirement system.
\tThe bill addresses a procedural issue in the adoption of an amendment to SB 191-FN during the 2015 legislative session, which provided for the deposit of such rebates in the general 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\t\tMatter which is either (a) all new or (b) repealed and reenacted appears in regular type.
\t16-2962
\t05/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Sixteen
AN ACT\trelative to state procurement card rebates.
Be it Enacted by the Senate and House of Representatives in General Court convened:
\t127:1 State Credit Card Contracts; Card Rebates. Amend RSA 9-D:2, I(b) to read as follows:
\t\t\t(b) Amounts which represent the added rebate benefit attributable to the consolidation of calculations under contracts allowing for the independent participation of the legislative or judicial branches, or the independent participation of non-state entities under RSA 21-I:17, I-a(a) shall be paid by the card issuer directly to the branches or non-state entities which independently participated in the purchases.
\t\t\t\t[(1) Fifty percent of the amount shall be paid by the card issuer directly to the branches or non-state entities which independently participated in the purchases; and
\t\t\t\t(2) Fifty percent of the amount shall be deposited in the payment and procurement card fund established in RSA 9-D:3, which fund may pay up to this amount to the board of trustees of the New Hampshire retirement system dedicated to an annual reduction in the retirement system's unfunded liability determined under RSA 100-A:16, II.]
\t127:2 Effective Date. This act shall take effect upon its passage.
Approved: May 20, 2016
Effective Date: May 20, 2016