Bill Text - SB72 (2017)

(New Title) establishing a committee to study certain investments by municipalities.


Revision: April 20, 2017, 2:22 p.m.

SB 72 - VERSION ADOPTED BY BOTH BODIES

 

03/09/2017   0574s

2017 SESSION

17-0776

08/03

 

SENATE BILL 72

 

AN ACT establishing a committee to study certain investments by municipalities.

 

SPONSORS: Sen. D'Allesandro, Dist 20; Sen. Hennessey, Dist 5

 

COMMITTEE: Public and Municipal Affairs

 

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AMENDED ANALYSIS

 

This bill establishes  a committee to study certain investments by municipalities.

 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

03/09/2017   0574s 17-0776

08/03

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Seventeen

 

AN ACT establishing a committee to study certain investments by municipalities.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  Committee Established.  There is established a committee to study certain investments by municipalities.

2  Membership and Compensation.

I.  The members of the committee shall be as follows:

(a)  Two members of the senate, one from the senate finance committee and one from the public and municipal affairs committee, appointed by the president of the senate.

(b)  Three members of the house of representatives, one of whom shall be from the house finance committee and one of whom shall be from the house ways and means committee, appointed by the speaker of the house of representatives.

II.  Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.

3  Duties.  The committee's study shall include, but not be limited to:

I.  Allowing town treasurers to deposit money into certificates of deposit offered through the public deposit investment pool.

II.  Permitting municipalities to invest in a development finance institution.

4  Chairperson; Quorum.  The members of the study committee shall elect a chairperson from among the members.  The first meeting of the committee shall be called by the first-named senate member.  The first meeting of the committee shall be held within 60 days of the effective date of this section.  Two members of the committee shall constitute a quorum.

5  Report.  The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2018.

6  Effective Date.  This act shall take effect upon its passage.

SB 72 - VERSION ADOPTED BY BOTH BODIES

 

03/09/2017   0574s

2017 SESSION

17-0776

08/03

 

SENATE BILL 72

 

AN ACT establishing a committee to study certain investments by municipalities.

 

SPONSORS: Sen. D'Allesandro, Dist 20; Sen. Hennessey, Dist 5

 

COMMITTEE: Public and Municipal Affairs

 

-----------------------------------------------------------------

 

AMENDED ANALYSIS

 

This bill establishes  a committee to study certain investments by municipalities.

 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

 

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.

03/09/2017   0574s 17-0776

08/03

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Seventeen

 

AN ACT establishing a committee to study certain investments by municipalities.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  Committee Established.  There is established a committee to study certain investments by municipalities.

2  Membership and Compensation.

I.  The members of the committee shall be as follows:

(a)  Two members of the senate, one from the senate finance committee and one from the public and municipal affairs committee, appointed by the president of the senate.

(b)  Three members of the house of representatives, one of whom shall be from the house finance committee and one of whom shall be from the house ways and means committee, appointed by the speaker of the house of representatives.

II.  Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.

3  Duties.  The committee's study shall include, but not be limited to:

I.  Allowing town treasurers to deposit money into certificates of deposit offered through the public deposit investment pool.

II.  Permitting municipalities to invest in a development finance institution.

4  Chairperson; Quorum.  The members of the study committee shall elect a chairperson from among the members.  The first meeting of the committee shall be called by the first-named senate member.  The first meeting of the committee shall be held within 60 days of the effective date of this section.  Two members of the committee shall constitute a quorum.

5  Report.  The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2018.

6  Effective Date.  This act shall take effect upon its passage.