Revision: Dec. 31, 2018, 1:04 p.m.
HB 357 - AS INTRODUCED
2019 SESSION
19-0773
06/05
HOUSE BILL 357
AN ACT relative to the public school infrastructure fund.
SPONSORS: Rep. Ladd, Graf. 4
COMMITTEE: Education
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ANALYSIS
This bill provides that all moneys in the public school infrastructure fund are nonlapsing.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
19-0773
06/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nineteen
AN ACT relative to the public school infrastructure fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 School Money; Public School Infrastructure Fund. Amend RSA 198:15-y, II to read as follows:
II. There is hereby established in the office of the state treasurer the public school infrastructure fund which shall be kept distinct and separate from all other funds and which shall be administered by the department of education. After transferring sufficient funds to the revenue stabilization reserve account to bring the balance of that account to $100,000,000, the state treasurer shall transfer the remainder of the general fund surplus for fiscal year 2017, as determined by the official audit performed pursuant to RSA 21-I:8, II(a), to the fund. Any earnings on fund moneys shall be added to the fund. All moneys in the fund shall be [continually appropriated for the biennium ending June 30, 2019 and any unexpended or unencumbered balance as of June 30, 2019 shall be transferred to the general fund] nonlapsing.
2 Effective Date. This act shall take effect 60 days after its passage.