HB 1669-FN-A-LOCAL – AS INTRODUCED
2012 SESSION
09/10
HOUSE BILL 1669-FN-A-LOCAL
AN ACT requiring the deposit of dedicated fund revenues into the general fund for the 2014 and 2015 fiscal years and requiring non-constitutionally established dedicated funds to be eliminated on June 30, 2015 unless reinstated by the legislature.
SPONSORS: Rep. Sova, Graf 10; Rep. D. McGuire, Merr 8; Rep. Munck, Straf 2
This bill requires the deposit of dedicated fund revenues from non-constitutionally established dedicated funds into the general fund beginning July 1, 2013 and ending June 30, 2015 and requires non-constitutionally established dedicated funds to be eliminated on June 30, 2015 unless reinstated by the legislature.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
12-2275
09/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twelve
AN ACT requiring the deposit of dedicated fund revenues into the general fund for the 2014 and 2015 fiscal years and requiring non-constitutionally established dedicated funds to be eliminated on June 30, 2015 unless reinstated by the legislature.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Dedicated Fund Revenues to be Deposited Into General Fund. Notwithstanding the provisions of RSA 6:12 and any other provision of law and with the exception of revenue required by the New Hampshire constitution to be deposited in a dedicated fund, all revenue required by statute to be deposited in the dedicated funds listed in RSA 6:12, I(b) shall be deposited in the general fund for the period beginning July 1, 2013 and ending June 30, 2015.
2 Dedicated Funds; Expiration Date; Reinstatement. All non-constitutionally established dedicated funds created by statute and listed in RSA 6:12, I(b) shall expire on June 30, 2015, unless reinstated by the general court. The moneys in each dedicated fund which expires shall lapse to the general fund. The chairpersons of the finance committees and ways and means committees of both the house of representatives and the senate shall appoint from the members of such committees a joint committee to review each non-constitutionally established dedicated fund and determine whether it is necessary and is being used for the purpose or purposes for which the fund was statutorily established. The joint committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2014.
3 Effective Date. This act shall take effect 60 days after its passage.
LBAO
12-2275
12/15/11
HB 1669-FN-A-LOCAL - FISCAL NOTE
AN ACT requiring the deposit of dedicated fund revenues into the general fund for the 2014 and 2015 fiscal years and requiring non-constitutionally established dedicated funds to be eliminated on June 30, 2015 unless reinstated by the legislature.
FISCAL IMPACT:
The State Treasurer and Department of Administrative Services states this bill will decrease state restricted revenue and increase state general fund revenue by an indeterminable amount in FY 2014 and each year thereafter. This bill may have an indeterminable impact on state expenditures in FY 2014 and each year thereafter. There will be no fiscal impact on county and local revenue and expenditures.
METHODOLOGY:
The State Treasurer states this bill requires the deposit of dedicated fund revenues from non-constitutionally established dedicated funds into the state general fund beginning July 1, 2013 and ending June 30, 2015, and requires non-constitutionally established dedicated funds to be eliminated on June 30, 2015 unless reinstated by the legislature. The State Treasurer administers a total of 10 dedicated funds. Of those funds, 6 are trusts not established using state general funds but rather a combination of private wills, public land trusts, environmental trusts, and proceeds from the sale of state lands affected under the authority of a joint resolution in 1867. Of the remaining 4 dedicated funds, three are LCHIP related and the funds are statutorily prohibited from being used for any other purpose. The remaining dedicated fund is the NH Excellence in Higher Education Endowment Fund which receives a share of monthly UNIQUE 529 Plan account management fees from Fidelity Investments. The fees are determined by total assets under management in those accounts, and the estimate is based on expected account balances for FY 2014 and 2015, combined with Endowment Trust earnings using the average of 12 years of earnings history. The Treasury estimates revenue to the state general fund will total $11,655 in FY 2014, and $15,255 in FY 2015 as a result of this bill, unless reinstated by the legislature.
The Department of Administrative Services states presently dedicated funds comprise a list provided in RSA 6:12 of funds established to be dedicated funds subject to annual reporting requirements. This list includes funds such as the Fish and Game Fund, Lottery, and Police Standards and Training Fund. These funds represent major state operations, having program objections which have been mandated. It is indeterminable what effect this bill will have on their operations, and therefore the effects of this bill are not known at this time. The Department is unable to determine what programs or services would need to be suspended from the time revenues first were deposited in the state general fund. Therefore the amount of cost savings, if any, is also indeterminable as are any fees or other revenue generating activity income which would not longer be received. The exact fiscal impact cannot be determined at this time.