SB 125-FN-A - AS INTRODUCED
2023 SESSION
23-0883
05/10
SENATE BILL 125-FN-A
AN ACT relative to annual grants to regional development corporations.
SPONSORS: Sen. Gendreau, Dist 1; Sen. Gannon, Dist 23; Sen. Avard, Dist 12; Sen. Bradley, Dist 3; Sen. Birdsell, Dist 19; Sen. Carson, Dist 14; Sen. Pearl, Dist 17; Sen. Lang, Dist 2
COMMITTEE: Finance
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ANALYSIS
This bill makes an annual appropriation to the business finance authority to provide grants to regional economic development corporations for a 10-year period.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
23-0883
05/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Three
AN ACT relative to annual grants to regional development corporations.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Business Finance Authority; Annual Grants to Regional Economic Development Corporations. Amend RSA 162-A by inserting after section 7-a the following new section:
162-A:7-b Annual Grants to Regional Economic Development Corporations. The sum of $200,000 is hereby appropriated annually to the authority for the purpose of providing equal grants to regional economic development corporations in furtherance of the objectives set forth in RSA 162-A:1. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated. Funds appropriated to the authority under this section shall be excluded from the repayment provisions of RSA 162-A:30.
2 Prospective Repeal; 2033. RSA 162-A:7-b, relative to annual grants to regional economic development corporations, is repealed.
I. Section 2 of this act shall take effect June 30, 2033.
II. The remainder of this act shall take effect July 1, 2023.
23-0883
1/17/23
SB 125-FN-A- FISCAL NOTE
AS INTRODUCED
AN ACT relative to annual grants to regional development corporations.
FISCAL IMPACT: [ X ] State [ ] County [ ] Local [ ] None
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| Estimated Increase / (Decrease) | |||
STATE: | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
Appropriation | $0 | $200,000 | $200,000 | $200,000 |
Revenue | $0 | $0 | $0 | $0 |
Expenditures | $0 | $200,000 | $200,000 | $200,000 |
Funding Source: | [ X ] General [ ] Education [ ] Highway [ ] Other | |||
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METHODOLOGY:
This bill establishes a $200,000 annual appropriation to Business Finance Authority (BFA) for the purpose of providing equal grants to regional economic development corporations. The appropriation is effective July 1, 2023 and has a prospective repeal date of June 30, 2033. This bill will increase State expenditures by $200,000 with the assumption the BFA monies will be expended within the same fiscal year they are received.
AGENCIES CONTACTED:
None