CHAPTER 116
HB 654 - FINAL VERSION
19Mar2019... 0939h
8May2019... 1868-EBA
2019 SESSION
19-0796
11/05
HOUSE BILL 654
AN ACT relative to surety required on construction loans.
SPONSORS: Rep. Butler, Carr. 7
COMMITTEE: Commerce and Consumer Affairs
─────────────────────────────────────────────────────────────────
AMENDED ANALYSIS
This bill grants discretion to the housing finance authority to require bonds, bond equivalents, or any other surety to assure performance on contracts awarded.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
19Mar2019... 0939h
8May2019... 1868-EBA 19-0796
11/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nineteen
AN ACT relative to surety required on construction loans.
Be it Enacted by the Senate and House of Representatives in General Court convened:
116:1 Housing Finance Authority; Bonds by Certain Mortgagors. Amend RSA 204-C:10 to read as follows:
204-C:10 Bonds by Certain Mortgagors. On all construction loans for the construction or rehabilitation of 11 or more dwelling units, as defined by the authority pursuant to adopted rules, the authority shall require bonds to be furnished by the mortgagor, [or] an equivalent escrow or letter of credit arrangement supervised by the authority, or any other surety sufficient to assure performance by the contractor party to the contracts awarded to carry on such work, and to assure payment out of the construction loan funds for all labor and materials for which claimants would be able to claim a mechanic's lien pursuant to RSA 447.
116:2 Area of Operation; Sole Statewide Public Housing Agency. Amend RSA 204-C:11 to read as follows:
204-C:11 Area of Operation; Sole Statewide Public Housing Agency. The area of operation of the authority shall be the entire state. The authority is a public housing agency as defined in the United States Housing Act of 1937. The authority is the only statewide public housing agency and is the sole entity authorized in New Hampshire to undertake any statewide contract administration for section 8 project housing assistance contracts issued under the United States Housing Act of 1937. The authority may subcontract such work to any other entities it determines, in its sole judgment, to be qualified to perform the work.
116:3 Effective Date. This act shall take effect 60 days after its passage.
Approved: June 21, 2019
Effective Date: August 20, 2019
| Date | Body | Type |
|---|---|---|
| Feb. 12, 2019 | House | Hearing |
| Feb. 21, 2019 | House | Exec Session |
| March 8, 2019 | House | Exec Session |
| House | Floor Vote | |
| March 19, 2019 | House | Floor Vote |
| April 25, 2019 | Senate | Hearing |
| May 2, 2019 | Senate | Floor Vote |
June 21, 2019: Signed by Governor Sununu 06/21/2019; Chapter 116; Eff: 08/20/2019
May 23, 2019: Enrolled 05/23/2019 HJ 16 P. 51
May 30, 2019: Enrolled (In recess 05/30/2019); SJ 19
May 8, 2019: Enrolled Bill Amendment # 2019-1868e: AA VV 05/08/2019 HJ 15 P. 100
May 2, 2019: Enrolled Bill Amendment # 2019-1868e Adopted, VV, (In recess of 05/02/2019); SJ 16
May 2, 2019: Ought to Pass: MA, VV; OT3rdg; 05/02/2019; SJ 15
May 2, 2019: Committee Report: Ought to Pass, 05/02/2019; SC 20
April 25, 2019: Hearing: 04/25/2019, Room 100, SH, 01:30 pm; SC 19
March 28, 2019: Introduced 03/28/2019 and Referred to Commerce; SJ 12
March 19, 2019: Ought to Pass with Amendment 2019-0939h: MA VV 03/19/2019 HJ 10 P. 73
March 19, 2019: Amendment # 2019-0939h: AA VV 03/19/2019 HJ 10 P. 73
: Minority Committee Report: Inexpedient to Legislate
March 19, 2019: Majority Committee Report: Ought to Pass with Amendment # 2019-0939h for 03/19/2019 (Vote 18-2; RC) HC 16 P. 21
: Majority Committee Report: Ought to Pass with Amendment # 2019-0939h (Vote 18-2; RC)
March 8, 2019: ==CONTINUED== Executive Session: 03/08/2019 01:30 pm LOB 302-304
March 5, 2019: Subcommittee Work Session: 03/05/2019 02:30 pm LOB 302
Feb. 21, 2019: ==RECESSED== Executive Session: 02/21/2019 02:00 pm LOB 302
Feb. 21, 2019: Subcommittee Work Session: 02/21/2019 10:30 am LOB 304
Feb. 12, 2019: Public Hearing: 02/12/2019 10:15 am LOB 302
Jan. 3, 2019: Introduced 01/03/2019 and referred to Commerce and Consumer Affairs HJ 3 P. 23