Revision: Nov. 27, 2023, 9:49 a.m.
2024 SESSION
24-3087.0
10/02
SENATE BILL [bill number]
AN ACT relative to lapse of funds from the education trust fund.
SPONSORS: [sponsors]
COMMITTEE: [committee]
─────────────────────────────────────────────────────────────────
ANALYSIS
This bill requires that amounts which exceed $100 million in the education trust fund at the close of a fiscal year shall lapse to the general fund.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
24-3087.0
10/02
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Four
AN ACT relative to lapse of funds from the education trust fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Education Trust Fund; Annual Lapse Amounts. Amend RSA 198:39, IV to read as follows:
IV. The education trust fund shall be nonlapsing, except that funds in excess of $100,000,000 at the close of each fiscal year shall lapse to the general fund. The state treasurer shall invest that part of the fund which is not needed for immediate distribution in short-term interest-bearing investments. The income from these investments shall be returned to the fund.