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HB1339: relative to distribution of tobacco settlement funds.
Bill details
Version history, amendments, and roll-call votes were not present in the imported local bill data.
Sponsors
- Barry House · Hills 55
Topics
Public finance Alcohol and tobacco
Official links
HB 1339-FN-A-LOCAL - AS INTRODUCED
2003 SESSION
03-2076
09/01
HOUSE BILL 1339-FN-A-LOCAL
AN ACT relative to distribution of tobacco settlement funds.
ANALYSIS
This bill requires the balance of tobacco settlement funds received by the state, after deposits to the education trust fund and the tobacco use prevention fund, to be distributed ½ to the general fund and ½ to the counties.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03-2076
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Three
AN ACT relative to distribution of tobacco settlement funds.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Distribution of Tobacco Settlement Funds. Amend 2000, 212:1, II to read as follows:
II. [Beginning] In fiscal [year] years 2001 [and in each year thereafter] through 2004:
(a) The first $3,000,000 to the tobacco use prevention fund, established in RSA 126-K:15.
(b) The next $40,000,000 to the education trust fund, established in RSA 198:39.
(c) Any amount over $43,000,000 shall be deposited as unrestricted revenue to the general fund.
III. Beginning in fiscal year 2005 and in each year thereafter:
(a) The first $3,000,000 to the tobacco use prevention fund, established in RSA 126-K:15.
(b) The next $40,000,000 to the education trust fund, established in RSA 198:39.
(c) Of any amount over $43,000,000, ½ shall be deposited as unrestricted revenue to the general fund and ½ shall be distributed in shares according to the population of each county to the treasurers of the 10 counties.
2 Effective Date. This act shall take effect July 1, 2004.
LBAO
03-2076
Revised 11/21/03
HB 1339 FISCAL NOTE
AN ACT relative to distribution of tobacco settlement funds.
FISCAL IMPACT:
The Legislative Budget Assistant indicates this bill will increase state restricted revenue by $3 million in FY 2005 and increase state unrestricted general fund revenue and county revenue by an indeterminable amount in FY 2005 and each year thereafter. There is no fiscal impact on state, county and local expenditures or local revenue.
METHODOLOGY:
This bill requires the balance of tobacco settlement funds received by the state to be deposited; one-half to the general fund and one-half to the counties, after certain deposit thresholds in the education trust fund and the tobacco use prevention fund are met. The impact of this bill is shown below. The state unrestricted general fund revenue and county revenue amounts are indeterminable because the exact amount of tobacco settlement funds that the state will receive in the future is unknown. The Education Trust Fund distribution does not change under this legislation.
Under the provisions of Chapter 319, Laws of 2003 distribution of funds to the Tobacco Use Prevention Account were suspended in FY 2005.
Distribution of Tobacco Settlement Funds ($ in millions)
Tobacco
Use Education General County
Prevention* Trust Fund* Fund Treasurers
FY 2005
Current Allocation $ 0 $ 40 Greater than $40 $ 0
Proposed Allocation $ 3 $ 40 1/2 over $43 1/2 over $43
Difference $ 3 $ 0 1/2 over $43 1/2 over $43
After FY 2005
Current Allocation $ 3 $ 40 Greater than $43 $ 0
Proposed Allocation $ 3 $ 40 1 /2 over $43 1/2 over $43
Difference $ 0 $ 0 1/2 over $43 1/2 over $43
*- Restricted Revenue -Unrestricted Revenue