SB378: relative to the disposal of highway or turnpike funded real estate.

SB 378-FN - AS INTRODUCED

2022 SESSION

22-3050

07/11

SENATE BILL 378-FN

AN ACT relative to the disposal of highway or turnpike funded real estate.

SPONSORS: Sen. Perkins Kwoka, Dist 21; Sen. Watters, Dist 4; Sen. Sherman, Dist 24; Rep. Wall, Straf. 6; Rep. Hamblet, Rock. 31; Rep. Malloy, Rock. 23

COMMITTEE: Transportation

ANALYSIS

This bill creates an exception for the disposal of highway or turnpike funded real estate under fair market value for the preservation of public interest.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

22-3050

07/11

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty Two

AN ACT relative to the disposal of highway or turnpike funded real estate.

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

1 New Paragraph; Powers of the Governor and Council in Certain Cases; Disposal of Highway, Federal, or Turnpike Funded Real Estate; Public Interest Protected. Amend RSA 4:39-c by inserting after paragraph I the following new paragraph:

I-a. When the commissioner shows that an exception is in the overall public interest based on social, environmental, or economic benefits or is for non-proprietary governmental use, the subject property may be disposed or leased at less than fair market value, as determined by the governor and council. The department will convey such property with the necessary covenants and restrictions to ensure the benefit to the public interest justifiably outweighs any special benefit realized by the party to which the property is being conveyed at less than fair market value.

2 Acquisition and Disposal of Real Estate; Disposal or Highway or Turnpike Funded Real Estate; Commissioner's Exception Allowed. Amend RSA 4:39-c, II to read as follows:

II. Except as provided in paragraph I-a, sales of real property under this section shall be at not less than current market value of the subject property, as may be determined by the governor and council. If the town, city, or county decides to resell the property, it shall first offer the property to the state at the market value at the time of sale.

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

LBA

22-3050

12/15/21

SB 378-FN- FISCAL NOTE

AS INTRODUCED

AN ACT relative to the disposal of highway or turnpike funded real estate.

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

Estimated Increase / (Decrease)

STATE:

FY 2022

FY 2023

FY 2024

FY 2025

Appropriation

$0

$0

$0

$0

Revenue

$0

Indeterminable

Indeterminable

Indeterminable

Expenditures

$0

Indeterminable

Indeterminable

Indeterminable

Funding Source:

[ ] General [ ] Education [ X ] Highway [ X ] Other - Turnpike Fund, Federal Funds

METHODOLOGY:

This bill permits the Department of Transportation, with Governor and Council approval, in certain circumstances to lease or dispose of property at less than fair market value. To the extent the Department may convey property at times and amounts currently not permitted under current law, this bill may have an indeterminable impact on state revenue and expenditures in FY 2023 and each year thereafter.

AGENCIES CONTACTED:

Department of Transportation