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SB352: relative to computing school building aid grant amounts.
Bill details
Version history, amendments, and roll-call votes were not present in the imported local bill data.
Sponsors
- O'Hearn Senate · Dist 12
- John Alger House · Graf 14
Topics
Official links
CHAPTER 124
SB 352-FN-LOCAL – FINAL VERSION
2004 SESSION
04-3053
04/10
SENATE BILL 352-FN-LOCAL
AN ACT relative to computing school building aid grant amounts.
ANALYSIS
This bill excludes amounts transferred to capital reserve from the formula for computing school building aid grant amounts.
This bill is a request of the department of education.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
04-3053
04/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Four
AN ACT relative to computing school building aid grant amounts.
Be it Enacted by the Senate and House of Representatives in General Court convened:
124:1 School Building Aid; Amount of Annual Grant. Amend RSA 198:15-b, II to read as follows:
II. For the purposes of computing grants hereunder, the amount of the annual payment of principal shall be increased by an amount equal to the amount of capital reserve or the amount raised by taxation which was actually expended for the project at any time, divided by the number of years for which bonds or notes were issued to provide funds for such school building or school administrative unit facilities; provided, however that funds [transferred to capital reserve] received from trusts, bequests [and], gifts or [money received from] insurance policies shall not be eligible for computing grants hereunder. When bonds and notes are issued for a period of less than 5 years, the amount of aid for which the district is eligible shall be paid in no fewer than 5 equal installments.
124:2 Effective Date. This act shall take effect 60 days after its passage.
(Approved: May 19, 2004)
(Effective Date: July 18, 2004)