Bill Text - HB357 (2019)

Relative to the public school infrastructure fund.


Revision: Dec. 2, 2019, 11:46 a.m.

CHAPTER 27

HB 357 - FINAL VERSION

 

27Feb2019... 0271h

19Mar2019... 0820h

11Apr2019... 1641-EBA

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

27Feb2019... 0271h

19Mar2019... 0820h

11Apr2019... 1641-EBA 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:

 

27:1  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 nonlapsing and continually appropriated [for the biennium ending June 30, 2019 and].  Any unexpended or unencumbered balance as of June 30, [2019] 2021 shall be transferred to the general fund.

27:2  Public School Infrastructure Commission.  Amend RSA 198:15-z, IV to read as follows:

IV.  The members of the commission shall elect a chairperson from among the members.  The first meeting of the commission shall be called by the first-named house member.  The first meeting of the commission shall be held within 45 days of the effective date of this section.  The commission shall meet at least monthly.  The commission shall provide a report on or before [November 1, 2018] June 30, 2021 to the general court with information on fund expenditures for the year, projects begun or completed during the previous year, the balance in the public school infrastructure fund, and any other information the commission deems appropriate.

27:3  Effective Date Changed; Public School Infrastructure.  Amend 2017, 156:249, VII, as amended by 2018, 11:1 to read as follows:

VII.  Section 72 of this act shall take effect July 1, [2019] 2021.

27:4  Effective Date.  This act shall take effect upon its passage.

 

Approved: May 15, 2019

Effective Date: May 15, 2019