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SB15: making an appropriation to the affordable housing fund.
Bill details
Version history, amendments, and roll-call votes were not present in the imported local bill data.
Sponsors
- Jeb Bradley Senate · Dist 3
- David H. Watters Senate · Dist 4
- Kevin Cavanaugh Senate · Dist 16
- Dan Feltes Senate · Dist 15
- Fuller Clark Senate · Dist 21
- Hennessey Senate · Dist 5
- Melanie Levesque Senate · Dist 12
- Jon Morgan Senate · Dist 23
- John Reagan Senate · Dist 17
- Cindy Rosenwald Senate · Dist 13
- Donna Soucy Senate · Dist 18
- Ruth Ward Senate · Dist 8
- Joelle Martin House · Hills 23
- Mary Jane Wallner House · Merr 10
- John Graham House · Hills 7
- David Danielson House · Hills 7
- Erin Hennessey House · Graf 1
Topics
Public finance Housing and property
Official links
SB 15-FN-A - AS INTRODUCED
2019 SESSION
19-0209
05/10
SENATE BILL 15-FN-A
AN ACT making an appropriation to the affordable housing fund.
ANALYSIS
This bill makes an appropriation to the housing finance authority for deposit in the affordable housing fund. The bill also directs the treasurer to make an annual transfer of $5,000,000 from real estate transfer tax revenue to the affordable housing fund.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
19-0209
05/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nineteen
AN ACT making an appropriation to the affordable housing fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Appropriation; Affordable Housing Fund. The sum of $10,000,000 for the biennium ending June 30, 2021, is hereby appropriated to the housing finance authority for deposit in the affordable housing fund established in RSA 204-C:57, for the purpose of providing financing or state matching funds for affordable housing. The appropriation shall be in addition to any other funds appropriated to the housing finance authority. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.
2 New Paragraph; Real Estate Transfer Tax; Transfer to the Affordable Housing Fund. Amend RSA 78-B:13 by inserting after paragraph II the following new paragraph:
III. Annually, on or before October 1, the commissioner shall direct the state treasurer to transfer the sum of $5,000,000 from revenue collected pursuant to the tax imposed by RSA 78-B:1 to the affordable housing fund established in RSA 204-C:57.
3 Effective Date. This act shall take effect July 1, 2019.
LBAO
19-0209
Redraft 1/7/19
SB 15-FN-A- FISCAL NOTE
AS INTRODUCED
AN ACT making an appropriation to the affordable housing fund.
FISCAL IMPACT: [ X ] State [ ] County [ ] Local [ ] None
Estimated Increase / (Decrease)
STATE:
FY 2020
FY 2021
FY 2022
FY 2023
Appropriation
$10,000,000
$0
$0
$0
Revenue
($5,000,000)
($5,000,000)
($5,000,000)
($5,000,000)
Expenditures
$10,000,000
$0
$0
$0
Funding Source:
[ X ] General [ ] Education [ ] Highway [ ] Other
METHODOLOGY:
This bill makes a general fund appropriation of $10 million to the New Hampshire Housing Finance Authority for deposit into the affordable housing fund to provide financing or state matching funds for affordable housing. The bill also directs the Treasurer to make an annual transfer of $5 million of real estate transfer tax revenue to the affordable housing fund. This annual transfer will reduce general fund unrestricted revenue by $5 million in FY 2020 and in each year thereafter.
AGENCIES CONTACTED:
Treasury Department