HB670: (New Title) relative to the land and community heritage investment program.

HB 670-FN-A – AS AMENDED BY THE HOUSE

09Mar2005… 0314h

2005 SESSION

05-0856

08/01

HOUSE BILL 670-FN-A

AN ACT relative to the land and community heritage investment program.

SPONSORS: Rep. Spang, Straf 7; Rep. Hager, Merr 12; Rep. Jasper, Hills 27; Rep. Cilley, Straf 3; Rep. Kurk, Hills 7; Sen. Odell, Dist 8; Sen. Johnson, Dist 2; Sen. Fuller Clark, Dist 24; Sen. Larsen, Dist 15

COMMITTEE: Municipal and County Government

AMENDED ANALYSIS

This bill appropriates $4,000,000 for the fiscal year ending June 30, 2006 and $6,000,000 for the fiscal year ending June 30, 2007 to the trust fund for the New Hampshire land and community heritage investment program. This bill also allows loans to be made to eligible applicants for financial assistance under the land and community heritage investment trust program.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

09Mar2005… 0314h

05-0856

08/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Five

AN ACT relative to the land and community heritage investment program.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Appropriation; Land And Community Heritage Investment Program. The sum of $4,000,000 for the fiscal year ending June 30, 2006, and the sum of $6,000,000 for the fiscal year ending June 30, 2007, are hereby appropriated to the trust fund for the New Hampshire land and community heritage investment program established in RSA 227-M:7. These appropriations are in addition to any other funds appropriated to the land and community heritage investment program. The governor is authorized to draw a warrant for said sums out of any money in the treasury not otherwise appropriated.

2 Program Administration; Financial Assistance; Loans. Amend the introductory paragraph of RSA 227-M:8, III to read as follows:

III. Financial assistance to eligible applicants shall be provided through grants and block grants (grants to another organization for re-granting) and up to 10 percent of financial assistance provided each year may be provided through loans. Principal and interest paid on such loans shall be deposited in the trust fund for the New Hampshire land and community heritage investment program established in RSA 227-M:7. Financial assistance may only be expended on eligible resources for the following purposes:

3 Effective Date. This act shall take effect July 1, 2005.

LBAO

05-0856

Amended 3/14/05

HB 670 FISCAL NOTE

AN ACT relative to the land and community heritage investment program.

FISCAL IMPACT:

The Legislative Budget Assistant has determined that this bill, as amended by House (House Amendment #2005-0314h), will increase state general fund expenditures by $4,000,000 in FY 2006 and by $6,000,000 in FY 2007. There will be no fiscal impact on county and local expenditures or state, county and local revenue.

This bill appropriates $4,000,000 in FY 2006 and $6,000,000 in FY 2007 from the general fund to New Hampshire Land and Community Heritage Investment Program for the purposes of this act.

METHODOLOGY:

This bill appropriates $4,000,000 in FY 2006 and $6,000,000 in FY 2007 from the general fund to New Hampshire Land and Community Heritage Investment Program for the purposes of RSA 227-M:7.