SB370: (New Title) relative to reimbursement of towns affected by the Merrimack River flood control compact and making an appropriation therefor.

SB 370-FN-LOCAL – AS AMENDED BY THE SENATE

03/27/14 1115s

2014 SESSION

14-2728

06/01

SENATE BILL 370-FN-LOCAL

AN ACT relative to reimbursement of towns affected by the Merrimack River flood control compact and making an appropriation therefor.

SPONSORS: Sen. Sanborn, Dist 9; Sen. Kelly, Dist 10; Sen. Larsen, Dist 15; Sen. Hosmer, Dist 7; Rep. Ratzki, Merr 1; Rep. Myler, Merr 10; Rep. G. Richardson, Merr 10; Rep. Raymond, Belk 4

COMMITTEE: Finance

AMENDED ANALYSIS

This bill appropriates settlement agreement moneys to towns affected by the Merrimack River flood control compact.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

03/27/14 1115s

14-2728

06/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Fourteen

AN ACT relative to reimbursement of towns affected by the Merrimack River flood control compact and making an appropriation therefor.

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

1 Findings. The general court finds that:

I. On January 17, 2014 the state of New Hampshire and the Commonwealth of Massachusetts reached a settlement agreement relative to moneys owed to the state of New Hampshire under the Merrimack River flood control compact under RSA 484:7. The settlement agreement resulted in a payment of $1,112,377.74 to the state of New Hampshire to resolve all outstanding debt under the compact up to and including state fiscal year 2012.

II. The state received a check for this amount on January 31, 2014.

2 Department of Revenue Administration; Appropriation.

I. The sum of $1,085,344 from the $1,112,377.74 settlement agreement dated January 17, 2014 under the Merrimack River flood control compact is hereby appropriated to the department of revenue administration. The governor is authorized to draw a warrant for the purpose of reimbursing the towns affected by the compact for state fiscal years 2012 and 2013. The department shall distribute the moneys in the manner prescribed in RSA 122:4, I. This appropriation is in addition to any other appropriations to the department. The remainder of the settlement moneys shall lapse to the general fund.

II. The department of revenue administration shall fund, under RSA 122:4, I, any shortfall in fiscal year 2015 flood control payments.

3 Repeal. 2013, 144:126, relative to flood control payments, is repealed.

4 Effective Date. This act shall take effect upon its passage.

LBAO

14-2728

Amended 04/01/14

SB 370-FN-LOCAL FISCAL NOTE

AN ACT relative to reimbursement of towns affected by the Merrimack River flood control compact and making an appropriation therefor.

FISCAL IMPACT:

The Department of Revenue Administration states this bill, as amended by the Senate (Amendment #2014-1115s), will decrease state general fund revenue, increase state restricted revenue and expenditures, and increase local revenue by $1,085,344 in FY 2014. There will be no impact on county revenue, or county and local expenditures.

This bill appropriates $1,085,344 from the state general fund in FY 2014 to the department of revenue administration for the purposes of this bill.

METHODOLOGY:

The Department of Revenue Administration states this bill appropriates $1,085,344 to the Department for the purpose of reimbursing cities and towns for the Massachusetts share of flood control payments for FY 2012 and FY 2013. As noted in the bill, in January 2014, as the result of a settlement agreement, the State of New Hampshire received a payment from Massachusetts in the amount of $1,112,377.74. In the absence of this bill, the full amount of the payment would be deposited into the general fund. Therefore, by dedicating $1,085,344 to cities and towns, this bill will decrease general fund revenue and increase local revenue by that amount.