HB 694-FN - AS AMENDED BY THE HOUSE
26Mar2025... 0889h
2025 SESSION
25-0403
07/08
HOUSE BILL 694-FN
AN ACT requiring leases of land, buildings, or space by state agencies to be at fair market value.
SPONSORS: Rep. J. Aron, Sull. 4; Rep. Cloutier, Sull. 6; Rep. Drye, Sull. 7; Rep. Girard, Sull. 6; Rep. S. Smith, Sull. 3; Rep. B. Sullivan, Sull. 1
COMMITTEE: Executive Departments and Administration
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ANALYSIS
This bill requires that property leased by state agencies be leased at a rate which would be considered a fair market rate, unless a sub-market rate is agreed to by the property owner.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
26Mar2025... 0889h 25-0403
07/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
AN ACT requiring leases of land, buildings, or space by state agencies to be at fair market value.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Fair Market Value of State Agency Leases. Amend RSA 4 by inserting after section 39-f the following new section:
4:39-g Fair Market Value Of State Agency Leases.
I. Any renewal of a lease for land, buildings, or space between a political subdivision and the state shall be renewed at a fair market rate, unless otherwise agreed upon by the lessor. Additional expenses, including but not limited to utilities and custodial services, shall be negotiated separately.
II. This section shall not apply to any state agency whose lease of land, buildings, or space was procured through the use of a competitive selection or bidding process.
2 Effective Date. This act shall take effect 60 days after its passage.
25-0403
3/31/25
HB 694-FN- FISCAL NOTE
AS AMENDED BY THE HOUSE (AMENDMENT #2025-0889h)
AN ACT requiring leases of land, buildings, or space by state agencies to be at fair market value.
FISCAL IMPACT:
The Legislative Budget Assistant has determined that this legislation has a total fiscal impact of less than $10,000 in each of the fiscal years 2025 through 2028.
AGENCIES CONTACTED:
Department of Administrative Services
| Date | Amendment |
|---|---|
| March 18, 2025 | 2025-0889h |
| Date | Body | Type |
|---|---|---|
| Feb. 19, 2025 | House | Hearing |
| March 10, 2025 | House | Exec Session |
| March 12, 2025 | House | Floor Vote |
| April 10, 2025 | Senate | Hearing |
April 3, 2025: Hearing: 04/10/2025, Room 100, SH, 10:00 am; SC 16
March 27, 2025: Introduced 03/27/2025 and Referred to Commerce; SJ 10
March 26, 2025: Ought to Pass with Amendment 2025-0889h: MA VV 03/26/2025 HJ 10
March 26, 2025: Amendment # 2025-0889h: AA VV 03/26/2025 HJ 10
March 18, 2025: Committee Report: Ought to Pass with Amendment # 2025-0889h 03/12/2025 (Vote 16-0; CC) HC 17 P. 18
March 18, 2025: Executive Session: 03/10/2025 01:30 pm LOB 104
March 7, 2025: Subcommittee Work Session: 03/10/2025 01:30 pm LOB 104
Feb. 12, 2025: Public Hearing: 02/19/2025 10:00 am LOB 306-308
Jan. 21, 2025: Introduced (in recess of) 01/09/2025 and referred to Executive Departments and Administration HJ 3 P. 23