HB294: relative to the cost of fiscal analysis of legislation relating to the retirement system.

HB 294-FN-A - AS INTRODUCED

2017 SESSION

17-0228

10/09

HOUSE BILL 294-FN-A

AN ACT relative to the cost of fiscal analysis of legislation relating to the retirement system.

SPONSORS: Rep. Rogers, Merr. 28; Rep. M. Smith, Straf. 6; Rep. Wallner, Merr. 10; Rep. White, Graf. 13; Rep. Soucy, Merr. 16; Rep. Leishman, Hills. 24; Sen. McGilvray, Dist 16

COMMITTEE: Executive Departments and Administration

ANALYSIS

This bill requires that the administrative and professional cost of the fiscal analysis of proposed legislation done by the retirement system be reimbursed from general funds not otherwise appropriated.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

17-0228

10/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Seventeen

AN ACT relative to the cost of fiscal analysis of legislation relating to the retirement system.

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

1 New Paragraph; Retirement System; Administration; Cost of Assessment of Proposed Legislation. Amend RSA 100-A:14 by inserting after paragraph XIII the following new paragraph:

XIII-a. Notwithstanding the requirements of paragraph XIII, the cost to the retirement system of the actuarial and professional assessment of proposed legislation required by RSA 14:44 shall be initially paid from assets of the retirement system, but shall be submitted to the governor for reimbursement. Not later than 30 days after the adjournment of each legislative session, the governor shall reimburse the retirement system for such costs. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.

2 Effective Date. This act shall take effect 60 days after its passage.

LBAO 17-0228

12/29/16

HB 294-FN-A- FISCAL NOTE

AS INTRODUCED

AN ACT relative to the cost of fiscal analysis of legislation relating to the retirement system.

FISCAL IMPACT: [ X ] State [ ] County [ ] Local [ ] None

Estimated Increase / (Decrease)

STATE:

FY 2018

FY 2019

FY 2020

FY 2021

Appropriation

$0

$0

$0

$0

Revenue

$0

$0

$0

$0

Expenditures

Indeterminable

Indeterminable

Indeterminable

Indeterminable

Funding Source:

[ X ] General [ ] Education [ ] Highway [ ] Other

METHODOLOGY:

This bill requires that the administrative and professional cost of the fiscal analysis of proposed legislation done by the New Hampshire Retirement System (NHRS) be reimbursed from general funds not otherwise appropriated. The NHRS states the expenditures associated with this bill are indeterminable. The NHRS is unable to project the number of retirement-related bills that would be filed in a legislative session, the level of complexity, or whether actuarial or professional fees would be required to determine the fiscal impact. Similar costs from prior legislative sessions excluding NHRS staff time or software implementation costs have ranged from $13,000 to $176,000.

AGENCIES CONTACTED:

New Hampshire Retirement System