1 Statement of Findings. The general court hereby finds that:

I. The current presidential administration has implemented tariffs in response to the existing high tariffs imposed by other countries on the United States and to generally achieve reciprocal trading terms and an overall improved trade balance.

II. The presidential administration's actions quickly resulted in a shifting of other countries' tariffs to more reasonable trading terms.

III. To avoid the tariff obligations, several countries and multiple businesses have pledged business investment in the United States economy.

IV. As of September 2025, the pledges have exceeded 7.4 trillion dollars.

V. New Hampshire has not been identified as a recipient of any investment-related pledges.

2 The State and Its Government; Department of Business and Economic Affairs; Director of Economic Development; Duties. Amend RSA 12-O:20, III to read as follows:

III. Plan, develop, and administer programs to encourage and promote the development of new industry and business in the state .

3 The State and Its Government; Department of Business and Economic Affairs; New Hampshire Economic Development Fund. Amend RSA 12-O:21, II(a) to read as follows:

(a) Business financing and expansion initiatives.

4 The State and Its Government; Department of Business and Economic Affairs; Goals and Objectives. Amend RSA 12-O:26 to read as follows:

12-O:26 Goals and Objectives. The plan shall identify both goals and objectives for the 10-year period and shall track measurable results so as to be able to assess the plan. Goals and objectives may be added, amended, or deleted as both existing and emerging economic conditions and opportunities warrant. The plan shall also benchmark key economic indicators .

5 The State and Its Government; Department of Business and Economic Affairs; Content of the Economic Development Strategy and Plan. Amend RSA 12-O:27, III to read as follows:

III. A needs forecast, based on research from both existing and targeted business and industry , that identifies issues and suggested initiatives so as to strengthen New Hampshire as a business and industry destination and to reinforce retention.

6 The State and Its Government; Department of Business and Economic Affairs; Content of the Economic Development Strategy and Plan. Amend RSA 12-O:27, VII to read as follows:

VII. Innovative programs to position and market the state to aid business recruitment and retention.

7 The State and Its Government; Department of Business and Economic Affairs; Annual Report. Amend RSA 12-O:28 to read as follows:

12-O:28 Annual Report.

The division of economic development shall complete the initial economic development strategy and plan by December 31, 2018, and submit the plan to the governor, senate president, senate majority leader, senate minority leader, speaker of the house of representatives, house majority leader, and house minority leader.  On or before December 31 of each year thereafter, the division shall similarly provide results and validation from the previous fiscal year and a comprehensive update of the plan so that each annual report shall extend the time frame of the plan by one year, thereby ensuring that a 2-year plan is always in effect.

8 The State and Its Government; Department of Business and Economic Affairs; Review of Reports Required. Amend RSA 12-O:40 to read as follows:

12-O:40 Review of Reports Required. The department of business and economic affairs, in consultation with the legislative budget assistant, shall periodically review reports issued under RSA 162-A:23-a at least once every 5 years and make recommendations to be utilized for an improved and consistent methodology for assessing the quantity and quality of jobs created and saved and the growth potential and environmental impacts of such programs. This section shall not apply to promotional literature.

9 Effective Date. This act shall take effect 60 days after its passage.

1 Statement of Findings. The general court hereby finds that:

I. The current presidential administration has implemented tariffs in response to the existing high tariffs imposed by other countries on the United States and to generally achieve reciprocal trading terms and an overall improved trade balance.

II. The presidential administration's actions quickly resulted in a shifting of other countries' tariffs to more reasonable trading terms.

III. To avoid the tariff obligations, several countries and multiple businesses have pledged business investment in the United States economy.

IV. As of September 2025, the pledges have exceeded 7.4 trillion dollars.

V. New Hampshire has not been identified as a recipient of any investment-related pledges.

2 The State and Its Government; Department of Business and Economic Affairs; Director of Economic Development; Duties. Amend RSA 12-O:20, III to read as follows:

III. Plan, develop, and administer programs to encourage and promote the development of new industry and business in the state , including domestic and international corporate relocation logistics and investments in the United States as coordinated through the United States Department of Commerce and other relevant agencies .

3 The State and Its Government; Department of Business and Economic Affairs; New Hampshire Economic Development Fund. Amend RSA 12-O:21, II(a) to read as follows:

(a) Domestic and international business recruitment, financing , and expansion initiatives.

4 The State and Its Government; Department of Business and Economic Affairs; Goals and Objectives. Amend RSA 12-O:26 to read as follows:

12-O:26 Goals and Objectives. The plan shall identify both goals and objectives for the 10-year period and shall track measurable results so as to be able to assess the plan. Goals and objectives may be added, amended, or deleted as both existing and emerging economic conditions and opportunities warrant. The plan shall also benchmark key economic indicators and provide metrics on the effectiveness of promotional and assistance programs .

5 The State and Its Government; Department of Business and Economic Affairs; Content of the Economic Development Strategy and Plan. Amend RSA 12-O:27, III to read as follows:

III. A needs forecast, based on research from both existing and targeted business and industry , and from emerging economic conditions , that identifies issues and suggested initiatives so as to strengthen New Hampshire as a business and industry destination and to reinforce retention.

6 The State and Its Government; Department of Business and Economic Affairs; Content of the Economic Development Strategy and Plan. Amend RSA 12-O:27, VII to read as follows:

VII. Innovative programs to position and market the state to aid business recruitment , relocation and the logistics for relocation, and retention.

7 The State and Its Government; Department of Business and Economic Affairs; Annual Report. Amend RSA 12-O:28 to read as follows:

12-O:28 Annual Report.

I. The division of economic development shall complete the initial economic development strategy and plan by December 31, 2018, and submit the plan to the governor, senate president, senate majority leader, senate minority leader, speaker of the house of representatives, house majority leader, and house minority leader. On or before December 31 of each year thereafter, the division shall similarly provide results and validation from the previous fiscal year and a comprehensive update of the plan so that each annual report shall extend the time frame of the plan by one year, thereby ensuring that a 2-year plan is always in effect.

II. In the event that, since the last issuance of the annual report, emerging economic conditions significantly improve or decrease the business opportunities for the state or create significant weaknesses and obstacles that require prompt mitigation, a supplement to the annual report shall be promptly completed identifying the change in the economic conditions and recommending actions to be taken to enhance business opportunities for the state.

8 The State and Its Government; Department of Business and Economic Affairs; Review of Reports Required. Amend RSA 12-O:40 to read as follows:

12-O:40 Review of Reports Required. The department of business and economic affairs, in consultation with the legislative budget assistant, shall periodically review reports issued under RSA 162-A:23-a at least once every 5 years and make recommendations to be utilized for an improved and consistent methodology for assessing the quantity and quality of jobs created and saved , the amount of new revenue generated from new businesses relocating to the state, the amount of domestic and international investments in business development within the state, and the growth potential and environmental impacts of such programs. This section shall not apply to promotional literature.

9 Effective Date. This act shall take effect 60 days after its passage.