Bill Details - SB15 (2019)

SB 15-FN-A - AS INTRODUCED

 

 

2019 SESSION

19-0209

05/10

 

SENATE BILL 15-FN-A

 

AN ACT making an appropriation to the affordable housing fund.

 

SPONSORS: Sen. Bradley, Dist 3; Sen. Watters, Dist 4; Sen. Cavanaugh, Dist 16; Sen. Feltes, Dist 15; Sen. Fuller Clark, Dist 21; Sen. Hennessey, Dist 5; Sen. Levesque, Dist 12; Sen. Morgan, Dist 23; Sen. Reagan, Dist 17; Sen. Rosenwald, Dist 13; Sen. Soucy, Dist 18; Sen. Ward, Dist 8; Rep. Martin, Hills. 23; Rep. Wallner, Merr. 10; Rep. Graham, Hills. 7; Rep. Danielson, Hills. 7; Rep. Hennessey, Graf. 1

 

COMMITTEE: Finance

 

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ANALYSIS

 

This bill makes an appropriation to the housing finance authority for deposit in the affordable housing fund.  The bill also directs the treasurer to make an annual transfer of $5,000,000 from real estate transfer tax revenue to the affordable housing fund.

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

19-0209

05/10

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Nineteen

 

AN ACT making an appropriation to the affordable housing fund.

 

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

 

1  Appropriation; Affordable Housing Fund.  The sum of $10,000,000 for the biennium ending June 30, 2021, is hereby appropriated to the housing finance authority for deposit in the affordable housing fund established in RSA 204-C:57, for the purpose of providing financing or state matching funds for affordable housing.  The appropriation shall be in addition to any other funds appropriated to the housing finance authority.  The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.

2  New Paragraph; Real Estate Transfer Tax; Transfer to the Affordable Housing Fund.  Amend RSA 78-B:13 by inserting after paragraph II the following new paragraph:

III.  Annually, on or before October 1, the commissioner shall direct the state treasurer to transfer the sum of $5,000,000 from revenue collected pursuant to the tax imposed by RSA 78-B:1 to the affordable housing fund established in RSA 204-C:57.

3  Effective Date.  This act shall take effect July 1, 2019.  

 

LBAO

19-0209

Redraft 1/7/19

 

SB 15-FN-A- FISCAL NOTE

AS INTRODUCED

 

AN ACT making an appropriation to the affordable housing fund.

 

FISCAL IMPACT:      [ X ] State              [    ] County               [    ] Local              [    ] None

 

 

 

Estimated Increase / (Decrease)

STATE:

FY 2020

FY 2021

FY 2022

FY 2023

   Appropriation

$10,000,000

$0

$0

$0

   Revenue

($5,000,000)

($5,000,000)

($5,000,000)

($5,000,000)

   Expenditures

$10,000,000

$0

$0

$0

Funding Source:

  [ X ] General            [    ] Education            [    ] Highway           [    ] Other

 

 

 

 

 

METHODOLOGY:

This bill makes a general fund appropriation of $10 million to the New Hampshire Housing Finance Authority for deposit into the affordable housing fund to provide financing or state matching funds for affordable housing.  The bill also directs the Treasurer to make an annual transfer of $5 million of real estate transfer tax revenue to the affordable housing fund.  This annual transfer will reduce general fund unrestricted revenue by $5 million in FY 2020 and in each year thereafter.

 

AGENCIES CONTACTED:

Treasury Department

 

Docket

Date Status
Jan. 3, 2019 Introduced 01/03/2019 and Referred to Finance; SJ 4
Feb. 5, 2019 Hearing: 02/05/2019, Room 103, SH, 01:00 pm; SC 9
Feb. 5, 2019 Hearing: 02/05/2019, Room 103, SH, 01:00 pm; SC 9
March 14, 2019 Committee Report: Ought to Pass, 03/14/2019; SC 13
March 14, 2019 Ought to Pass: MA, VV; OT3rdg; 03/14/2019; SJ 8
March 20, 2019 Introduced 03/20/2019 and referred to Finance HJ 11 P. 68
April 23, 2019 Public Hearing: 04/23/2019 10:00 am LOB 210-211
April 30, 2019 Division I Work Session: 04/30/2019 10:00 am LOB 212
May 1, 2019 Executive Session: 05/01/2019 01:00 pm LOB 210-211
Retained in Committee

Action Dates

Date Body Type
Feb. 5, 2019 Senate Hearing
Feb. 5, 2019 Senate Hearing
March 14, 2019 Senate Floor Vote
April 23, 2019 House Hearing
May 1, 2019 House Exec Session

Bill Text Revisions

SB15 Revision: 5149 Date: Jan. 22, 2019, 8:37 a.m.