1 New Subdivision; New Hampshire College Graduate Retention Incentive Partnership (NH GRIP). Amend RSA 12-A by inserting after section 67 the following new subdivision:

New Hampshire College Graduate Retention Incentive Partnership (NH GRIP)

12-A:68 Definitions. In this subdivision:

I. "Commissioner" means the commissioner of the department of resources and economic development.

II. "Department" means the department of resources and economic development.

III. "Eligible institution of higher education" means any public or private institution of higher education authorized to grant degrees in this state by the higher education commission pursuant to RSA 21-N:8-a.

IV. "Graduate" means a student who graduates from an eligible institution of higher education in May 2017 or thereafter.

V. "Incentive" means a monetary award given each year for 4 years by a participating employer to a graduate which the graduate may elect to be paid to the graduate or to an entity servicing the graduate's student loans.

VI. "Participating employer" means any person, firm, corporation, partnership, association, the state, any political subdivision of the state, or any other entity which is engaged in a business or in providing services and which employs employees in connection with such business or services who enters into a participating employer agreement to provide an incentive to a graduate.

VII. "Participating employer agreement" or "agreement" means an agreement prepared jointly by the department of resources and economic development in consultation with the New Hampshire College and University Council and the Business and Industry Association of New Hampshire.

12-A:69 New Hampshire College Graduate Retention Incentive Partnership Established. There is established the New Hampshire college graduate retention incentive partnership (NH GRIP) which shall be administered by the department. The purpose of NH GRIP is to recruit and retain graduates from eligible institutions of higher education and provide incentives to those graduates to work in New Hampshire.

12-A:70 Requirements and Procedure. A graduate, who obtains employment with a participating employer who executes an agreement, shall receive an incentive of $1,000 each year for the first 4 years of the graduate's employment with the participating employer. The agreement shall be signed by an authorized agent of the participating employer. The participating employer shall retain a copy of each signed agreement in its files.

12-A:71 Advertising. The department shall, in cooperation with the Business and Industry Association of New Hampshire, the New Hampshire College and University Council, the New Hampshire Higher Educations Assistance Fund, and the New Hampshire Coalition for Business and Education, advertise to New Hampshire employers and New Hampshire college students the details of NH GRIP, through print and electronic media. The department shall maintain a list of employers who have a valid participating employer agreement and shall make the list available on the department's public Internet site as well as in writing.

12-A:72 Funding. For the biennium beginning July 1, 2019, and each biennium thereafter, the commissioner shall include any requests for appropriations related to NH GRIP in the biennial agency budget requests pursuant to RSA 9:4.

2 Appropriation. The sum of $1 for the fiscal year ending June 30, 2018 and the sum of $1 for the fiscal year ending June 30, 2019, are hereby appropriated to the department of resources and economic development for the purpose of advertising and disseminating information to New Hampshire college students and graduates regarding the New Hampshire college graduate retention and incentive partnership (NH GRIP) established in RSA 12-A:68-72. The governor is authorized to draw a warrant for said sums out of any money in the treasury not otherwise appropriated.

3 Effective Date. This act shall take effect July 1, 2017.

1 New Subdivision; New Hampshire College Graduate Retention Incentive Partnership (NH GRIP). Amend RSA 12-A by inserting after section 67 the following new subdivision:

New Hampshire College Graduate Retention Incentive Partnership (NH GRIP)

12-A:68 Definitions. In this subdivision:

I. "Commissioner" means the commissioner of the department of resources and economic development.

II. "Department" means the department of resources and economic development.

III. "Eligible institution of higher education" means any public or private institution of higher education authorized to grant degrees in this state by the higher education commission pursuant to RSA 21-N:8-a.

IV. "Graduate" means a student who graduates from an eligible institution of higher education in May 2017 or thereafter.

V. "Incentive" means a monetary award given each year for 4 years by a participating employer to a graduate which the graduate may elect to be paid to the graduate or to an entity servicing the graduate's student loans.

VI. "Participating employer" means any person, firm, corporation, partnership, association, the state, any political subdivision of the state, or any other entity which is engaged in a business or in providing services and which employs employees in connection with such business or services who enters into a participating employer agreement to provide an incentive to a graduate.

VII. "Participating employer agreement" or "agreement" means an agreement prepared jointly by the department of resources and economic development in consultation with the New Hampshire College and University Council and the Business and Industry Association of New Hampshire.

12-A:69 New Hampshire College Graduate Retention Incentive Partnership Established. There is established the New Hampshire college graduate retention incentive partnership (NH GRIP) which shall be administered by the department. The purpose of NH GRIP is to recruit and retain graduates from eligible institutions of higher education and provide incentives to those graduates to work in New Hampshire.

12-A:70 Requirements and Procedure. A graduate, who obtains employment with a participating employer who executes an agreement, shall receive an incentive of $1,000 each year for the first 4 years of the graduate's employment with the participating employer. The agreement shall be signed by an authorized agent of the participating employer. The participating employer shall retain a copy of each signed agreement in its files.

12-A:71 Advertising. The department shall, in cooperation with the Business and Industry Association of New Hampshire, the New Hampshire College and University Council, the New Hampshire Higher Educations Assistance Fund, and the New Hampshire Coalition for Business and Education, advertise to New Hampshire employers and New Hampshire college students the details of NH GRIP, through print and electronic media. The department shall maintain a list of employers who have a valid participating employer agreement and shall make the list available on the department's public Internet site as well as in writing.

12-A:72 Funding. For the biennium beginning July 1, 2019, and each biennium thereafter, the commissioner shall include any requests for appropriations related to NH GRIP in the biennial agency budget requests pursuant to RSA 9:4.

2 Appropriation. The sum of $1 for the fiscal year ending June 30, 2018 and the sum of $1 for the fiscal year ending June 30, 2019, are hereby appropriated to the department of resources and economic development for the purpose of advertising and disseminating information to New Hampshire college students and graduates regarding the New Hampshire college graduate retention and incentive partnership (NH GRIP) established in RSA 12-A:68-72. The governor is authorized to draw a warrant for said sums out of any money in the treasury not otherwise appropriated.

3 Effective Date. This act shall take effect July 1, 2017.