Revision: Dec. 1, 2025, 8:54 a.m.
HB 1147 - AS INTRODUCED
2026 SESSION
26-2462
09/06
HOUSE BILL 1147
AN ACT relative to the use of capital reserve funds.
SPONSORS: Rep. Nadeau, Rock. 4; Rep. L. Miner, Rock. 7; Rep. McGrath, Rock. 40; Rep. Drye, Sull. 7; Rep. Litchfield, Rock. 32
COMMITTEE: Municipal and County Government
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ANALYSIS
This bill reinstates prior requirements for the use of a capital reserve fund for multiple payments under certain financing agreements that are lease/purchase agreements.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
26-2462
09/06
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty-Six
AN ACT relative to the use of capital reserve funds.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Capital Reserve Funds of Counties, Towns, Districts, and Water Departments; Expenditures. Amend RSA 35:15, III(a) to read as follows:
III.(a) Notwithstanding the prohibition of debt retirement fund establishment in RSA 33:2, capital reserve funds may be used for multiple payments under a financing agreement for the purpose for which the capital reserve was established[, including a lease/purchase agreement]. If the financing agreement is a lease/purchase agreement the following shall apply:
(1) The lease/purchase agreement does not contain an "escape clause" or "non-appropriation clause"; and
(2) The lease/purchase agreement has been ratified by the legislative body by a vote by ballot of 2/3 of all the voters present and voting at an annual or special meeting.
2 Effective Date. This act shall take effect 60 days after its passage.