Revision: March 20, 2024, 3:13 p.m.
Rep. Pauer, Hills. 36
March 19, 2024
2024-1229h
09/08
Amendment to HB 1187
Amend the title of the bill by replacing it with the following:
AN ACT relative to prohibiting lease agreements of equipment for building or facility improvements.
Amend the bill by replacing all after the enacting clause with the following:
1 Lease Agreements of Equipment. Amend RSA 33:7-e to read as follows:
33:7-e Lease Agreements of Equipment. The governing body may enter into leases of equipment as required by the municipality. Appropriations to fund lease agreements with nonappropriation clauses may be approved by a simple majority vote of the legislative body. Lease agreements with nonappropriation clauses shall not be treated as debt under RSA 33:4-a. For the purposes of this section, "lease" shall include lease-purchase, sale and lease back, installment sale, or other similar agreement to acquire use or ownership of such equipment as is from time to time required by the municipality. [For purposes of this section and RSA 382-A,] Building or facility improvements that become fixtures related to the installation, purpose, or operation of such equipment shall not [be deemed to constitute equipment and the costs of such improvements may] be financed through lease agreements under this section.
2 Effective Date. This act shall take effect 60 days after its passage.
2024-1229h
AMENDED ANALYSIS
This bill specifies that building or facility improvements that become fixtures related to the installation, purpose, or operation of leased equipment shall not be financed through lease agreements.